This is a question of trading preferences and unfortunately you need to find what works for you.
What are your strengths in terms of knowledge and instinct?
Can you live with seeing stocks in red and await bounces (patient) or are you after breakout trades where you can quickly gain a few pips and sell in the green.
Every trader has to find a system that works for them, identifying patterns is based on what you're trying to trade.
If you're looking for falling knives (stocks that have had an announcement but the market has over-reacted) then you need to have a volume scan and software to identify large falls.
if you're looking for breakaway trades, you need to scan charts the night before and identify stocks at resistance as well as looking at things like OBV and patterns (ascending triangles etc).
