To get the most accurate signals, it is to use the daily timeframe .On the other hand, the weekly and monthly timeframes will give stronger signals.
H4 and H1 can also be used with key support and key resistance level for trade analysis but it is better not to use minute timeframe at all because they are unreliable.
The attention of traders and analysts may indicate a trend reversal. However revers al candlestick patterns show necessarily a reversal but simply a change in trend..
For example, there may simply be a trend transition to a flat.
For example, there is a statement in the literature says that the bearish candlestick patterns that indicate a trend reversal is more reliable than bullish ones.
However, this is drowning from the analysis of the stock market, which has many technical differences, in particular constantly encountering gaps.
And this statement is already not so relevant for more dynamic Forex.
The appearance of a reversal pattern can be considere
d as strong signal only if it occurs near a strong level of support or resistance.
In other words, as further trend continues, so greater its angle of inclination to the X-axis.
Thus, you can more trust to the reversal candlestick patterns formed on it.
And vice versa, on a short and weak trend, the candlestick pattern is ineffective.
For example, we see the first continuation of the model on the trend and it is strong.
The next one on the same trend is already weaker.
The next one is even weaker, and then they can be ignored at all.
These options are a mirror image of each other concerning the X-axis.
This simple rule applies almost always and everywhere. Especially if several long, single-sided candles go in a row.
Long Shadows, conversely, indicate that the market is fluctuating strongly, and the probability of a reversal trend is increasing.
Basically for candlestick in which, the opening price is equal to the closing price(-) instead of the candle body.
Most of the candlestick patterns analysis includes doji candles, and very often (but not always)they symbolize a reversal or a trend correction in themselves.
Now, you understand what a candle analysis of the forex market, the stock market, what are the basics and key rules in general terms.