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westhilltrader
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Intraday Candlestick Trading
westhilltrader replied to brownsfan019's topic in The Candlestick Corner
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Intraday Candlestick Trading
westhilltrader replied to brownsfan019's topic in The Candlestick Corner
Hi there everybody, I am the "westhilltrader" and new to this forum. For two years now, I do mostly day-trading and only use 1 minute candlestick charts. They give the best representation of price evolution during any period, intraday or multi-day. However, none of my critical decisions for entry or exit points is done based on candle formations. I only use indicators for that. I also belive that the 1 minute period is the best choice for day-trading. Going smaller than that adds too much noise to the indicators and to the price itself. Larger periods cannot keep up with the speed of data change and action response required in day-trading. I do not have an expert view of the candles but, during my after market trade analysis, the classic candles or formations do not appear as reliably as required for a critical decision. So I stick to what has proven reliable to me