Understanding Chart Patterns

In adolescence, I had visited a TA Seminar where a man in expensive blazer told the audience "pattern study means identifying certain shapes like penants, double tops etc. for profitable trades". Now when I recall that have my guts out laughing.

Pattern Study means identifying periods of accumulation/distribution and high/low volatility, and levels of high supply-demand tussle. Nothing more, nothing less.

Yes, Elliott Waves (EW) and Gann Tools are a sibling of pattern study. The difference between orthodox pattern study and EW is that EW uses Fibonacci ratios also to anticipate the levels of support/resistance. Gann tools use maths somewhat associated with planetary movements.

Pattern Study is illustrated on all the charts posted on this blog.