Everyone tom dick and harry knows these patterns the key is knowing which one has to be generated on the given day ... how to arrive at conculsion about a pattern is a big exhaustive topic which requires experience , you have to live through a lot of patters then when they reoccur your memory comes back for a real trader this happens real time beacuse of subconsious traing and is very difficult to explain sometimes, howevey you can make a rough setup in your mind the trade accordingly, for example i said i was ready for reversal in wock today , because i remembered a pattern like this , this is not enough for trading it long then you require other confirmations realtime to put a long trade
Like in the posted chart of YESBANK, earlier i would have been looking for longs after seeing that initial strength. Prior price action or higher timeframe price action wasn't taken into account that well(only higher levels were taken but not the strength of earlier day). Now i can see that long like that is a low probability trade.
I am trying to better my expectation of days after a strong trend day or range days, what type of trades will be suitable for them so that i am prepared better ahead of the day.