Success of Japanese Candlestick Patterns?

Candlestick patterns are the most reliable and useful when showing "reversal"... morning star, evening star, shooting star, hammer, dark cloud cover, piercing line, engulfing, etc. Nothing all that special as the same info can be found elsewhere.

Being sharp on "reversals" is one of the most important issues for traders. Also, "breakouts". All big moves (up and down) include multiple breakouts.

 

Since when are S/R "baloney"?

 

There is a lot of baloney actually.

You have great potential !!!!

 

Not unless he comes with more. From what he's already posted, I think he's full of crap!

 

%%
Its possible;
maybe a bit optomistic
not likely 75% for lifetime, even though as long as settlement = 3 days, any midpoint of weekor year is important. IBD use$ red ,white + blue barcharts= same thing .
CANT really predict markets much + candlecharts or any price data will not change that;
thats why stops + money management is used. Wisdom is profitable to direct

 

Do you know where I can find good translations of the original texts? I find candlesticks fascinating even with all the caveats in using them so I would like to learn more about them and reading some good translations of the original texts would be a good start.

Thanks

 

https://www.elitetrader.com/et/thre...d-original-japanese-candle-stick-book.308304/

 

I trade candle sticks, but i trade the 50 tick chart

 

Is it always this quite ?

I sometimes post on my fx book -----there is a 2 day delay between messages takes ages to hold a conversation.

 

Sprouts link to FoG is a great start. There's more than this though, bits and pieces of other texts all published in Japanese but not English afaik, so get onto google.jp with autotranslate... like I say, you need to dig deep and read slow.