Chart Patterns Question

Noobish question I know, and I think I already know the answer but better safe than sorry.

I came across this article:

but it’s on a penny stocks website.

Do these patterns apply to futures trading as well say for example Nifty Futures?

The only way to really answer that question is to test it yourself over a large sample. Only then you will have confidence to trust whatever pattern you wish to trade through ups and downs (or discard it if it does not work). Blindly following other people’s ideas and rules is a recipe for failure - use it as starting point and then do your own work.

Different markets + timeframe can behave differently. But sometimes a pattern can work in multiple targets too. Nifty for instance has a momentum effect that seems to work across multiple time frames.

Even if a pattern is more universal, say a pullback, the details of how that pattern behaves could still depend on target market and you may have to fine tune it.

So test.

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These are very well known patterns. Nothing related with penny stocks. They apply on nifty as well

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thanks this is the answer i was looking for, i just wanted to double check.

The deeper understanding needed in why those patterns are forming on those charts, what is the relationship of buyers and sellers causing a particular pattern to print.

This understanding is added bonus in breaking down the charts.

You won’t understand if you keep reading about chart patterns. You probably need some practical knowledge. Pick any old charts and read them step by step. You can take references to be sure that you are doing it correctly.