I want to trade 30min, 1hr and 4hr candles and maybe even day candles eventually… I understand japanese candlestick patterns very well, I have recently learnt about stochastics, divergence, support + resistence lines and trend channels.
If i was to start my day by drawing out my support & resistence on say the 30min or 1hr chart.
Then look for hidden divergences where momentum and price action clash.
Then look for candlestick pattern to follow that divergence, ie an engulfing bullish candle or hammer candle at the bottom of a drop… vice versa from the top
and seeing all this on a support line for bottom or resistance line for top, ideally in the oversold/overbought zone…
Would this merit a good entry point for a trade?
Is there anything I can add to this to better my odds or would you say even without an engulfing candle formation, it would be highly probably anyway?