Time interval for candlesticks

They are also good for "bottomfishing" as the second indicator, out of the pile pattern changes and volume reversal patterns. You look for signs such as hammers and dojis the bottom of the cup before you buy a breakout over a whole new range of head.

• Time interval for candlesticks: since my roundtrip trades can last from 3 to 15 minutes or so, I need to use the fast production, and prefer the 1-minute candles. Keep in mind that you should limit your chart until 8:30 til 12 am time frame, you can clearly see the candles, use the 1-minute intervals.
• You can experiment for yourself with 2-3-minute and minute candlesticks.
• Add stochastics, MA lines and volume to help you with your candlestick charts.
I have not found candlesticks useful for things like risk management, other than to tell me about the possible tops, long positions open. Must be used and the time of sale and level 2 for close risk management. Lamps are used to enter trades bounce, and get you out of open lucrative jobs when you start to see reversal patterns occur.