If you are a long-term trader, this strategy will be suitable for you. The position trading requires fundamental analysis but also following macroeconomic trends and relevant news.
One of the patterns for this strategy is called “Head and Shoulders” price point over a long period and use them to learn whether prices are going to move up or down in the forecast future.
As you see in the chart, the places where the price stays higher for a long time are the head and shoulders points. Finding these areas and drawing a line through them can tell you where the price is going. Short-term price fluctuations are not considered here.
This strategy is good for long-term traders with very favorable risk-reward ratio. But consider this pattern is a rare trading opportunity and requires more thorough research over a longer period. Some time global economic events can impact your strategy also.