Rising or falling

Good confirmation of rising or falling
How to understand if there's a false breakdown or not? Often the breakdown gathers stop losses. You need a more accurate indicator. I use the range bar. Having configured the necessary settings of the delta, I can understand where there's a real prerequisite for strong growth, and where the price goes in a certain balance: from edge to edge. Note the following examples: ES, EUR / USD, WTI.
Range bar sets the bar not on the time parameters, but upon accumulation of the delta. I draw your attention to the rate of accumulation. If the bar is formed rapidly, within 5-10 minutes - it greatly increases the chances for confirmation.
And what patterns or indicators do you use to confirm a trend?

katya1 said:

And what patterns or indicators do you use to confirm a trend?

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Confirmation = too late to trade. The word is useless in trading application.

To me, it is all about discipline. It doesn't matter if a stock follows a certain pattern, because often the same pattern doesn't work the next time. When it doesn't work, I cut my loss. When it does work, I make good profit. Many people put too much effort into patterns, and too underestimate the importance of discipline.

timlisten said:

To me, it is all about discipline. It doesn't matter if a stock follows a certain pattern, because often the same pattern doesn't work the next time. When it doesn't work, I cut my loss. When it does work, I make good profit. Many people put too much effort into patterns, and too underestimate the importance of discipline.

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Imo its the other way around:

Many people put too much effort into discipline, and too underestimate the importance of patterns

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I use 'patterns' in the sense of a backtested edge built on causation rather than correlation. If your edge is good and you know why it works then you wont even need discipline to take the trade, its automatic and effortless.
eg. suppose you find a dodgy director of a company that makes large purchases before good news and large disposals before bad news. Following him = easy trades!

Trembling Hand said:

Confirmation = too late to trade. The word is useless in trading application.

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This may be the case if you are trading very short timeframes eg minutes to hours but my view is if you are taking trades that are maybe 6 weeks to 6 months then a confirmation is fine in my opinion. I want to confirm the move has started before I jump in.

Of course I base this on my own trading which I tend to use Elliott wave to give me my direction and whether the wave has completed or not or where it needs to be before I jump in. I also add some price and time analysis to confirm my trades and no problem making profits this way. But then again I trade for a lifestyle and not to make it my lifestyle.

Thoughts anyone.