DislikedRats, it actually does not work 50% it's less, it's less Just pulled out this charts out of a 15000 records database.
These is the distribution of your profit would you have shorted a 1hr candle with longer upper wick with close on the next hour/2hours/3hours/5hours candle. The graphs are your profit had you done this since may 2006.
[EDIT] What this charts show is that you would have successfully pulled out profits IF youdda gone long on a longer upper wick since a few months ago.Ignored
Hmmmm...interesting is there a way to do the same test but for when the candlestick approached key S/R (maybe weekly or monthly highs and lows)?