whatever time frame you use, you have to see each candlestick as one of the many battles in a war between bulls and bears. each battle starts with the open of the candle and ends with the close of the candle. if it's red, bears won that battle. if it's green, bulls won that battle. if it's a doji, no one won. Now, how do we determine the significance of a battle. Volume is the key. When you think back to your history lessons, what battles do you remember from your Civil War lessons? Battle of Gettysburg? Battle of Antietam? What's so famous about these battles? How about the sheer number of soldiers that died? A couple of significant battles won by one side will sway the upper hand to them for seconds, minutes, hours, days, months, or years. Ok, i'm gonna stop.
They are not battles but rather abstract pieces of information that if interpreted correctly will lead to massive profits.
candlestick analysis does not hold up very well in serious studies/testing. That is what the candles say to me.
that was how the book i read when i first started learning talked about it... battles... people falling in battle trend is a war were several battles are being won by one side... haha kinda exciting stuff to read.