I’m a big fan of candles and candle structure and combinations for giving me an edge in my trading .
They are useful to watch on any timeframe, particularly on the the longer Period charts. I wrote on Tuesday of a bearish set-up on AUDJPY. Of course the RBA were going to play a major role in making or breaking this trade. That didn’t concern me too much at the time. The candle/fib combination on the daily had given me an area to place my entry/orders and I sat back to watch the show.
I will link to the post here as it will save me time in waffle and repetition, and pose the same question. Do you use them in your trading? …..Do you take notice of them?.
They were certainly successful for me the next day after spotting the set-up . Trade was closed at the 61.8%
Original chart below .
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