Any chart can only tell one what has happened. Even candlesticks are an indicator in themselves, showing past price movement.
If one doesn’t know where price will soon move to and when, through some type of crystal ball method one can only guess.
If one wants to trade and can only guess and not know where price will soon move to and when, one wants those guesses to be as accurate as possible.
A good place to start is examining the past as in candlestick chart pictures A and B as examples, recognising what in a Somewhat Perfect way one would have wished to do, and reverse engineering a method that will allow one to do this accurately enough often enough with future price movement when it arrives.
All chart based trading is guessing.
Keeping it simple in terms of entry and exit parameters on a per candlestick basis for the chosen financial instrument to be traded and time interval of chart to be traded off, and one may have a good enough method very quickly.
I cant tell you how big your stop loss should be as i dont know what time interval you want to use. M5 and M30 may make a difference.
I have shared an obvious method waiting for the user to fine tune to their needs and make it their own.
It is possible to have made many pips profit from the candlestick chart pictures A and also B. Or another candlestick chart using the same principles. But that doesnt mean a certain person will be able to. Afterall, anyone can be given a snooker cue and table, but not all can make a century break.
Just like many methods shared on a trading forum with a screenshot example, I am not claiming to have actually made those trades.
But at least an opportunity to profit commences on almost all candlesticks here.
Not like most other threads that show a handful of opportunities that existed in maybe 200 candlesticks, and we are supposed to believe the user picked the correct 5 entries without their stop loss being hit.
This is how I try to profit with a blank candlestick chart and make enough pips profit overall, by guessing accurately enough often enough where the chart price will soon move to and when.
I do not use indicators, multiple timeframes or draw lines.
I could imagine where lines could be drawn but don’t really bother.
S/R may be reached or past,
I dont know in advance where price will go, i can only guess, sometimes I am wrong.
It is not easy, and how could trading ever be easy, its fiddly and fast and needs a lot of concentrated attention, clicking and pressing buttons, and the situation on the screen/s is always changing.
I hope to improve further.
I am open to ideas.
Not knowing where price will move to in advance, and so needing to limit risk with a stop loss to avoid a margin call or worse, plus the spread, are the obstacles to making a profit on a trade.
A somewhat perfect method is the focus.
However this thread evolves.
Put simply, I have shown a clear example of what to me a Somewhat Perfect method is like on the candlestick chart.
The framework is there.
Broker used, financial instrument traded, time interval of candlestick chart used, entry and exit frequency and policy including stop loss size are self definable parameters based on self preference.
Someone may find some of this info useful.
Possibly taking it to a next step in terms of defined parameters.
Through sharing others may also benefit.
The used parameter details of a system can be defined easily.
Keep losses small.