Hi guys, I am a relative beginner with Technical Analysis. Read quite a few books. In the books the charts & patterns so nice & clean & it seems like I understand them perfectly. But when I actually look at real life charts, I am totally unable to identify the patterns. In the books, they so neatly draw lines & identify the patterns.
Here is a stock (not Indian) with daily chart from 2013. I have attached both bar & candle charts for the same. It seems like there is consolidation going on for a few months & then there is a breakout in Dec with high volume. Now I am totally unable to figure out what consolidation pattern it is (if it all there is one)? How do I learn to identify it? When someone else draws lines, I am able to figure it out. But how do I do it myself? Any help will be appreciated.
Here is a stock (not Indian) with daily chart from 2013. I have attached both bar & candle charts for the same. It seems like there is consolidation going on for a few months & then there is a breakout in Dec with high volume. Now I am totally unable to figure out what consolidation pattern it is (if it all there is one)? How do I learn to identify it? When someone else draws lines, I am able to figure it out. But how do I do it myself? Any help will be appreciated.
Last edited: