How important is it to know traditional technical analysis patterns like cup and handle, head and shoulders, etc.?

A solid understanding of basic technical analysis, including price patterns, is helpful but more important than remembering pattern names and identifying patterns is to understand the psychology of how those patterns develop and the motivations of participants which may trigger actionable price movement. The daily videos emphasize the psychology of participants and what may cause them to act at certain times for a deeper understanding of how price movement evolves.

ETF Close July 31 2013