Candlestick charting patterns for stock trading?

Fugazsy

Veteren member
3,661 677
I find candlestick charts very useful and mostly I trade the 5m TF.

The close is very important to me, as the size of the body and the size of the tails.

I divide candlestick in "trend candle" and "doji candle', a doji candle is a range candle, a doji in a trend is a flag.

Yes, prices are continuously but at some point they accelerate and it is there where I want to get in and candlestick helps me to do that.
 
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tokyojoe

Established member
874 289
I am learning candlestick charting patterns for short-term stock trading right now. I would like to know what you guys think about it. Is it a good parameter for technical analysis? Do you recommend what resource to learn about candlestick charting patterns? Thanks.
If you are going down the short term daytrading route, then as a resource I can only recommend your own live exposure (& to start with, very small real £/$) to get a feel for the way price moves & the way you react to being exposed to the open position.

Daytrading is hard, sometimes very hard depending on your vehicle of choice, people may try & tell you different but each day produces different scenarios, different speeds of flow, differing & varying price structures.

Every form of TA, formation of price, every trap, snap crackle n pop is covered by the banks/brokers snakes n' shakes.

Try & also focus on the price itself, rather than just a particular way to view it (candlestick, tick.. whatever)

It will take a while to bed down into a style that suits your particular circumstance.

Try not look too much into other peoples way of trading, my main advice is do it yourself. Watch how price reacts & moves in (what will soon become) obvious areas of interest, you will then move onto being mindful of spoofing, blatant misquoting & many other various forms of trickery (though I realise this may be a little early to mention)

This is a game of tricks, not candlesticks, drill down into the way price moves.

Good luck in your new venture
 
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