Thanks for the very kind compliments from Yuv, Kraven and Zess.
Now Bernbeach has asked me to like at longer term time frames and there are probably others who would like this too.
I will now turn to daily and 4 hour time frames but commit to my ongoing search to properly set up the risk/reward ratio.
In longer time frames such as the daily, we only have one choice of time frame - the daily.
As such, the number of charts is much more limited. You cannot just open a daily and instantly find an evening star or other candlestick pattern. You may have to wait several days for a pattern to appear.
Because of this candlestick charting on these time frames takes a different course. Trading is wanted immediately and therefore a whole chart is looked at going back 2 weeks or more.
As well as the candlesticks, trend lines are drawn. Support and resistance lines are added (both level and sloping) to discern where to place the stop loss and take profit orders.
In addition, a drop of Fibonacci may be added.
I will however, stick to the standard patterns for now. The advantage here is their certainty.
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