Post
Topic
Board Trading Discussion
Re: Are candlestick patterns overrated?
by
jackg
on 19/08/2022, 09:45:18 UTC
Specially those advance candlestick patterns like rising soldiers and all that, I don't even remember anyone even mention them once while trading or in any tutorial.

I think there's quite a few problems with candlestick patterns that make them harder to trade - one of the main ones being what timeframe should you use? Rising soldiers on a 45m chart might be more likely to become rising soldiers on a 1h chart before the price moves in the other direction.

Most traders with successful strategies will take on information from charts and will rely on a lot of different indicators (and sometimes new ones) and candlesticks might be able to form an extra confirmation on their trade (I don't think they're profitible to trade alone because they seem to be smaller moves).