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> What Timeline You use for Candlesticks?
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freemenn
post Sep 10 2008, 11:10 PM
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Hallo,
nun mal in english (es geht schneller fuer mich...)
just curiouse, what is your prefered timeline for candlestick charts?
Lets' say you trade intraday, do you prefer 5 minutes charts or 1 hours charts?
And: if you use 5 minutes charts do you thing candelstick strategies are usefull?

Thanks fuer opinionen!
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whipsaw
post Sep 11 2008, 08:40 AM
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ZITAT(freemenn @ Sep 11 2008, 12:10 AM) *
Hallo,
nun mal in english (es geht schneller fuer mich...)


No problem at all freemen ;-)

ZITAT(freemenn @ Sep 11 2008, 12:10 AM) *
just curiouse, what is your prefered timeline for candlestick charts?
Lets' say you trade intraday, do you prefer 5 minutes charts or 1 hours charts?
And: if you use 5 minutes charts do you thing candelstick strategies are usefull?

Thanks fuer opinionen!


To answer the question is not so easy. It depends (amongst others) on the underlying market you prefer, investment horizon and type of trader you are.
If you read some of the trading related discussions in the community you will recognize that most of the members are ultra short term traders. They close open position usually within a few minutes, some of them often within less a minute.

If you ask candelstick in relation to strategies what do you refer to?


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AncientSion
post Sep 11 2008, 09:08 AM
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In my opinion candlesticks can be used on basicly every timeframe. 1min, 5min, 15min, 60min, daily, whatever you prefer. Obviously the patterns involved work better the larger the timeframe is. Personally, i like using them in a 5min and upwards timeframe.
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ronner
post Sep 11 2008, 09:34 AM
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5min are the minimum timeframe you should use it. The problem with candlesticks is - often they give a wrong signal. So they requires an additional confirmation (Trendlinebreak or indicatorsignal for example).

If you are a long term trader (30 to 60min and more), they can be very useful to entry the market.


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