Any candlestick pattern you watch out for?

[ria_rose]

Thank youuu Clear! Definitely! I also try to look at the historical price movement when trying to make sense of candlesticks. I guess what I’m most unsure of is just how far back I’d have to check out to get enough context.

[mrhenry8th]

@tommor

From that point on you can treat the high of the outsid bar as reisstance and the low a support. A close above the resistance level or a close below the support level are reliable indicators of the direction of price action that will now follow.

Will you trade this off the daily or get into a lower time frame?

[mrhenry8th]

@Clear_Trades

How is the risk to reward on this?

Can you share more on this? Is this like where piece is in relation to other market structures? Or around support and resistance levels?

[tommor]

Daily. I almost never look at or trade off intra-day time-frames.

[ausguyforex]

Yes if your in a buy trade

And you see 5 green candles on 15 min chart it’s a reversal signal

ANd 8 green candies can do it too

For direction if your in a buy

You would look for 5 red candle pattern
And 4 green candle pattern

4 candle pattern is the trend

All on 15 min chart

[Reggie_Smith]

Candlestick patterns can be useful, but they work best alongside other indicators and market context for a stronger strategy.

[Michael_56]

I don’t really follow any pattern as such because my strategies keeps on changing. Sticking to only one set of patterns would make it difficult for me to think outside of box. So yeah I leave it up to my trading strategies.

[ria_rose]

That’s interesting! I hope you don’t mind me asking. I just wonder how many trading strategies do you use at a time and how do you decide which strategy to use?