In weak form efficiency the information set is just historical prices, which can be predicted from historical price trend; thus, it is impossible to profit from it.
The temporal evolution of prices involves a complex relationship among these three variables, together with quantities reflecting the motivations of the traders that may involve price trend and other factors.
The patterns are characterized by a clear direction of the price trend, followed by a consolidation and rangebound movement, which is then followed by a resumption of the trend.
