Hi.i have a question related to japanese candelstick chart patterns reliability. I think that on lower time frames (5 minutes or less) there is too much noise and price movements can be too nervous for chart pattern to be used with a good reliability. Which is the lowest time frame i can use to get effective infos from chart patterns (given that anyway i have to use them with a grain of salt)? 1h?1d?..
Thanks in advance
day trading always use 1hr as the atr should be more than 100 pips daiily that way you have more chance of catching a small trend and bagging some pips
If you are new trader, multiple timeframe analysis might be difficult to you. It 's normal price movement in lower timeframe contains a lot of wicks. To get more effective you may consider bigger two timeframe such 15,60 M. Please note that there are not right or wrong. It’s just my recommend.
def agree with the other guys, 1hr seems to be a great time frame for enough frequency but good movement. I really wouldn’t worry about multiple time frames just yet concentrate one one thing.