Do chart patterns work for all time periods?

No. At least I dont think so. This is a one hour chart and what looked like an upward wedge to me. I expected a upwards breakout, with maybe a pullback to the resistance line. But no, it broke down as you can see.
Which leads me to question. Is there any good chart patterns for short time periods?

Kommentera:

Update: I think it is an ascending triangle (not a wedge) because the top line is flat.
My mistake calling it a wedge, where both lines would be ascending, but compressing. That would be bearish.
Here is a good read on the 'vs.' of the two:
stockcharts.com/arti...ending-triangle.html