Chart Patterns: Reliable?

[Robert]

Can one rely on strictly chart patterns to trade the markets? For example: triangle, wedges, flags, pennants, etc...

Do you think one can make money in the markets in the long run relying only on chart patterns? Thanks

[phil895]

Yes, a lot of pros use charts in combination with TA very sucessfully; Bulkowski and Dan Zanger are some of the best at it.

[torero]

If you ask some of the older and successful trading veterans, most used to hand-drawn chart patterns before modern technology. They never used anything else since the advent of the personal computer, except it has quicken their analysis. My mentor used it for 15 yrs, still making money today. Patterns are the meat of my trading. Not complaining so far.