Hi guys,
Looking for a reliable candlestick pattern quick ref. guide. Looked at a few and each says something not similar to other.
Could you please let me know a reliable guide which I can put on a desk a look up for quick check on the guide.
Thank you
Not sure why you put the word "reliable" in your title when you're only looking for a
Definitions / Explanation of each Japanese Candlestick pattern.
Keep those reference guides you have even if they're different because for each pattern...there are
sub-groups for each pattern. Therefore, the patterns you have in one guide should not be the "exact same" in another guide unless its by the same author.
- A typical Japanese Candlestick pattern...each has a minimum about 5 sub-groups.
Also, you mention
quick reference...that implies you need to save your own charts of your favourite Japanese Candlestick patterns with objective rules written in your own words in a spreadsheet or folder...charts of markets that you trade.
For example, if you're trading Heating Oil Futures...you want your "quick reference" that's created by you of Japanese Candlestick Patterns with charts of the patterns in Heating Oil Futures and
not Gold GC Futures.
How do you decided which are the best patterns for you to create your own "Quick Reference Guide" ?
You need to backtest as many patterns as possible and then use only the patterns that have the best results via the hypothetical example of Heating Oil Futures.
- I recommend to let your backtest and simulator results tell you which patterns to concentrate your learning / application efforts upon.
It's one of the biggest problems with traders via the fact they're learning a pattern via a market they do not even trade or they're wasting their time & energy via using something they did not backtest nor traded via a simulator...that's how you use that word "Reliable" in your subject title.
wrbtrader
