DislikedI wouldn't say how many candles must form for a reversal, When you see that happening on the daily chart its a good idea to pull out your fibb tool because its a retracement. Retracements happens all the time, so I would pull out my fibb take a long trade and set my tp at the 38.2% level on the fibb. If you go to the A/U daily you will notice that level was hit and all those pips would be yours. The other levels are the 50% and the 68% but I always set it on the 32% because that has a higher probability of been hit on a higher TF. If you on a lower...Ignored
I often find that in evaluating each trade in order to find only grade A entrys its easy to find good reasons to discard opportunities that then go on to win big. This is the skill that has to be developed of course but it is frustrating and seems to happen to me more than it should as often the day has gone by with no trades placed and tons of pips have gone by.