Pattern Failure or Judgement Failure

[Shantanu]

There are many times when a well known pattern legitimately fails to do what it is supposed to do. But more often than not it is the failure of our judgment on the current situation or pattern that fails.
This happens many times due to our wanting the pattern to form in a certain way and that call is taken before market tells us what is happening on the ground. This disposition of presupposing and assuming what we want to happen is a real kill joy. One must have patience to let the market decide what it wants to do and letting it tell us like an omen about its path of action. In my case at least most of my failures happen because I try to dictate what the market must do.
It mainly happens when there is a long time of inactivity and one craves for the adrenalin rush. Some action needs to be taken to justify the value of my existence as a trader. It is is easy to tell some one to be patient, try it when you watch the market for days with out getting a single trade to execute!
So next time a pattern fails ask your self – was it the pattern or your judgement that is to blame.