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Chart Patterns

Markets follow certain patterns that have become well known to traders. Before we look at these patterns, here's one final reminder: Always be humble to the markets. Experts, geniuses, and madmen have all spent years trying to discern the pattern behind the blitz of numbers that represent market movements—a pattern that will allow them to predict market behavior with perfect accuracy and lead them to riches. Almost all have failed. Even those who do succeed do so only temporarily before the mood behind the markets shifts, leaving their elaborate models outdated and useless.

On the other hand, some investors are clearly better than others. Although some of that success may be due to instinct, it is also true that every successful investor has put in time to understand the markets and the trends that move them.


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