Question is above. Quite new to price action and just want to know which candlestick patterns are usually the most reliable for reversals or continuation.
I used to think a doji would signify a trend change but I was wrong. Sometimes even a bullish or bearish engulfing candle isn’t always reliable either but after the engulfing candle closes, I would take notice of the candle after.
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You’ll probably find lots of information like this at Thomas Bulkowski’s thepatternsite.com.
Note that his research has been done on share price action, not forex, and that the charts I can revcall him displaying are D1, not intra-day.
“reliable” for win-rate or for overall profit? two very different questions, often (in fact normally!) with conflicting answers
overall, continuation patterns tend to be high win-rate and lower profit; reversal patterns tend to be much lower win-rate but higher profit when successful
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your question is like “which car is better ?”
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When you look at the charts, which candlestick patterns have you seen to be the most reliable for reversals or continuations?
For me I think the focus shouldn’t be about what pattern is more reliable, rather what works best for you.
Because, if price action is in your strategy toolbox, then you shouldn’t be worried about a particular pattern.
My opinion though.