======================= Jnhi; Hi, i like them, easier, quicker than barcharts ; however probably best for rice trading, which is where they started them
I'm new in the use of Candlesticks and I suspect that comibined with some technical indicators they can be reliable. Researching past graphs I suspect that combined with Bollinger Bands and a 22-day SMA they can produce a good Trend Following system.
I added the Candlesticks to the Bollinger Bands and the 22SMA because I notticed that when a white and long candle closes above the upper BB it produces a more reliable signal than a black candle, an effect bars don't provide. (I think!)
I think - whether it is candlesticks or A-Z indicators, I'd categorize them as more of a probability in approaching the trade than a certainty.
It is said that there is no certainty in anything, even whether you will wake up tomorrow. But the probability that you'll stil be alive tomorrow is huge. Just as they said that "there is no free lunch" doesn't mean that you can't try to get a less expensive good meal. Candlesticks are just like those little odds that can 'force' a better probability for a trader to understand the market in a profitable manner. Why not take hold of yet another edge? But those are jmho
I use candlesticks because I find reading charts to be easier and quicker with them, but I won't trade because I see a bullish engulfing pattern, morning star pattern, or any of the others. At best, for me, the patterns are a very small factor that could help to confirm a possible candidate to trade.
The Forbes 400 list is full of guys who made their fortunes from candlesticks. Of course the really great traders only use candlesticks in conjuction with lunar cycles and CCI.