{quote} Turv, candlestick patterns ain't BS. Have you tried them?
because that is what i was saying from the beginning{quote} Sorry but yes they are, its about groups of candles, especially on M1 or M5. Okay look at a support area, say gu 1.6000 markets got buyers so the candles are generally have long wicks as there not closing at the bottom, but some will close at the bottom, just cause at that second it closed it was at the low, doesnt mean it will break support at all. Everyone how moves away from candles and indfucators Dr oes a lot better.
Its really that hard to understand.
Find a nonrandom pattern, by interpreting the cause of the pattern not the distribution of it.As a said a few posts earlier, a long bull or bear candle caused by a news report, will always have a pullback to market equilibrium, thus forming a long shadow and a big or decent sized body, which pattern is known as a hammer or shooting star depending on context.
And it will more likely result in a price reversal also... about 56% if i remember correctly.
As for higher timeframes, yes the reversal is always there but the size of the next candle is imperative to the success of the reversal, so by looking at a higher timeframe, you have a better chance of catching a big movement than on M1 with all that extra noise BS.
"There's a sucker born every minute" - P.T. Barnum
who didn't manage to become profitable yet, but judges others saying they're newbies and trolls while he's so experienced: "I was once a newbiejust like you ( sorry all )". You're not much better than most newbies here - you give your 'opinion' which is just assumptions without any proof and say you're 'almost there' - that's exactly what all the newbies [read - muppets] here do...
