IMO, candlestick patterns can be useful as *part* of your overall edge, but generally not in the absence of more context. So for example, a specific pattern(s) can be used for entry within the context of a larger approach/strategy, possibly even for exit as well. Patterns can also useful as an edge for scalping, since as your timeframe gets faster, the relevant larger context also gets "compressed" into the pattern itself, and a lot of other stuff just becomes noise. In both cases, the price action depicted visually by the pattern is also context in itself -- displays the micro trends represented by the candles and how the battle between bulls & bears has played out to that point in time.
Anybody know how to Set up a Run to produce a list of Stocks that have Daily Candlestick Kicker Signals? It'd be fun to look at a dozen of them in real time and see how they do. Trading Kicker Signal - https://duckduckgo.com/?q=Trading+Kicker+Signal+&t=h_&ia=web Bullish Kicker candlestick is a two candle signal, indicating a radical change in investor sentiment towards the bullish side. https://www.barchart.com/stocks/candlestick-patterns/kicker-bullish?orderBy=volume&orderDir=desc - KR,BBL,MPLN,RIO,TD,K,SPIR,EBR,GGG,AWK,SUPV,KEP https://stockcharts.com/freecharts/candleglance.html?KR,BBL,MPLN,RIO,TD,K,SPIR,EBR,GGG,AWK,SUPV,KEP,MFIN,CSAN,ADF,SHI,EBR.B,PTRS,LWAY MFIN,CSAN,ADF,SHI,EBR/B,PTRS,LWAY https://stockcharts.com/freecharts/candleglance.html?MFIN,CSAN,ADF,SHI,EBR.B,PTRS,LWAY
I respectfully disagree. I expect others to buy after my long entry because they are short and are now panic covering. They did not know what I knew. The only thing "they know", is the fear of price running against their position.