If you are already familiar about some of the Candlestick patterns then you might have already noticed that there are some of them that are rarely seen especially on the intraday trading period. The reason is that they require a gap between the close and the opening price.
You can check such instances by referring into your trading platform and checking the exact intraday period of the day. You will most likely notice that the Open price does not equal the closing price of the next succeeding candle. Anyway, this can be resolved by using the so called "Poetic License" which will be discussed on another topic.
Moreover, there are hundreds of Candlestick patterns out there that you can use as reference to guide you on the future direction of the market. Some of the most commonly used candle stick patterns are the Morning Stars, Evening Stars, Haramis, Shooting Star, Spinning Top and so on...
The good part about making use of a Candlestick Pattern is that it can be used on all Time Frames. You do not need to make any adjustments as compared with the other tools such as the Moving Averages, MACD or any other tools that requires modifications on its settings.
You can check such instances by referring into your trading platform and checking the exact intraday period of the day. You will most likely notice that the Open price does not equal the closing price of the next succeeding candle. Anyway, this can be resolved by using the so called "Poetic License" which will be discussed on another topic.
Moreover, there are hundreds of Candlestick patterns out there that you can use as reference to guide you on the future direction of the market. Some of the most commonly used candle stick patterns are the Morning Stars, Evening Stars, Haramis, Shooting Star, Spinning Top and so on...
The good part about making use of a Candlestick Pattern is that it can be used on all Time Frames. You do not need to make any adjustments as compared with the other tools such as the Moving Averages, MACD or any other tools that requires modifications on its settings.
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| Moving Average and MACD |
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