Candle sticks concept

Beginner Questions
1

I have been looking at the details of candle sticks anatomy and physiology. Though I notice a touch of predictability but can’t see any reasoning behind them as indicators of buying/selling pressures.

A candle stick gives information of four levels only(opening, closing, maximum, minimum). It does not give real frequency or volume involved in a span of time.Moreover it is claimed that they apply to any time span.

A very simple way to prove that they are just random is to generate (or just imagine) your own time span candles over a one minute candles chart. Take any two points on the chart and you can readily see that you can choose two points that may indicate nothing consistent.

Do you agree?

2

All charting of price action over one minute time-frames is random.

But taking daily / weekly OHLC patterns as candlesticks is certainly not random, though signals only from these patterns is not as certain as books and system vendors say. I would estimate that a 60% success rate for a candlestick pattern is pretty good.