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Yes, very interesting discussion.
What I was implying with my post is that, IMO, Pattern Recognition is
another name for Price Action and that we can only:
a) Trade macro patterns (2 or more bars)
OR b) Trade single bar patterns
Single bar patterns are only a summary of the macro-patterns at the
micro level (the next timeframe down).
If we don't believe in single bar patterns then we don't believe in
patterns fullstop (fo course single bar patterns are only an
approximate summary and lack the detail, like HL precedence, that we
can see at the next level down).
I am biased against complex indicators because I feel that they are
only indirectly reporting PriceAction and that we can already see
divergence etc on the chart itself as it occurs.
I see that, as usual, you have already pushed the boundaries
on 'PatternRecognition".
I am also looking in the other direction - what else can we use
beside PatternRecognition - is there anything else outside of that
with equal relevance?
The obvious one is Volume - which I don't like and don't use.
Obviously there are more to consider.
I also place a value on context.
Walking from the shower to the wardrobe in the nude is quite
different to walking from the newsagent to the coffee shop a la
natural.
brian_z
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