Hello Baby Pip makers, I have doubt about this "I am searching for some candlestick patterns and I found some basic patterns like three crows and all etc., What time frame can we use for better results for this kinda patterns and does those times frames work with basic patterns.
As far as I can make out, there has been very little objective research on success rates using candlestick patterns intra-day. If you find some, make sure its applicable to the markets you’re interested in - what works great in forex might be a loser in stocks.
Thomas Bulkowski did some great research into candlestick pattern trading using daily charts, Google him for his website and books. But again, don’t assume that what he found worked well then for the US stock market will work well now in the UK.
Demo whatever pattern you’re proposing to put real money into.
@Arjun26, There are roughly 6 basic patterns that are relatively easy to spot and consistent. My personal fav is a three bar reversal.
About time frames, that’s a fractional subject which for some is a very hard concept to grasp. And there are many strategies based on comparing one time to a higher or lower time frame. Keep in mind the parent controls the child but a new trend starts when the lower time frames and grows up or not. The best way I can suggest to do down and dirty time analysis is with your trend tool. Just draw the space between pivot points, set them up and take the average one to measure the next time cycle. The same concept can be applied to price cycles. if you take the time cycle and price cycle you can make a box or rectangle to plot the next area of PA.
So being as price action is cyclical in nature and patterns appear on any time frame you can’t just say which is best on this or that time frame.
Mate, don’t rely on any specific trading pattern, try to work with the whole chart.
I literally watched this live on 27th September, 2018 and has helped.