Courses › BLT | Bank Level Trading
Pattern Updating Part 2
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What this lesson covers
This lesson continues the work on updating patterns and makes a blunt argument. The textbook rules for a head and shoulders are correct as far as they go, and they are taught identically in almost every course. That is precisely the problem. When a very large number of traders are watching the same shape, applying the same rules and placing orders in the same places, that positioning becomes visible and exploitable. The lesson works through the pattern again from that perspective, showing where the obvious orders sit and what tends to happen to them. It then covers how to read the same formation differently, so that you are positioned where the move actually develops rather than where the pattern says it should.