Candlestick probability

Amatrue said:
Is there probability in predicting the formation of the next candlestick given the formation of previous candlesticks. For example, if the candlestick closes long and green wouldn't it slightly shift market sentiment causing the next candlestick to likely form green? And if this is true how does it relate to the random walk theory?
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the color of the next candle stick depends on price action which can change any moment, you can do statistical check to see how many time a green candle came after green and red after
(:banghead:), but it's not a valid test, and it's a lot of work, it's much more effective to learn price action or to learn how to read heatmap like Bookmap
 
cornerstone said:
the color of the next candle stick depends on price action which can change any moment, you can do statistical check to see how many time a green candle came after green and red after
..... it's much more effective to learn price action or to learn how to read heatmap like Bookmap
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Exactly;
+ in an up-trending bull market, there is a persistent pattern of certain candles, which is how inVestors make millions over the years.Like an elitetrader noted this month;;it's not a crapshoot.........................................................................................................NOT a prediction.Wisdom is profitable to direct
 
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your mileage may vary
 
Hi Easymon1, unfortunately no there is no literature on or off line. I learned from my friend who showed me supply and demand, then this more advanced look - how we view orders in single bars.
 
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