Candlestick patterns are not an absolute trading method neither using them gives an edge in the Market. How many Times have you failed trying to buy and sell at conventional candlesticks? Have you ever back tested the Candlestick Patterns? What is the probability ratio? If you tried answering these questions you will find out that, Candlesticks are worse than Moving averages when compared with static evidence
One of my favorite trader,Paul Tudor Jones once said “I believe the best Money is at the market turns, Everyone says you get killed trying to pick tops and bottoms – Well for 12 years ,I have missed the meat (Trend)in the middle but, I have made lot of money at tops and bottoms”.
Price action is a study of technical analysis that can bring quite a bit of benefit to the trader. By focusing on price and price alone, investigating previous movements and how markets have reacted – traders can look to get the cleanest technical picture of a given market that might be available.