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Candlesticks are a popular charting method. We use them extensively ourselves for charting because we believe they give a very good visualization of the price action, even though we never use any candlestick formations in our own quantified trading. Among those who swear to use quantified strategies, traders like us, candlesticks have a rather poor reputation. Is it any reason for this negativity?
This article provides you with 3 candlestick patterns that work. It turns out, perhaps surprisingly, that some candlesticks patterns work reasonably well. We test Bearish Engulfing Pattern, Three Outside Down, and Bullish Harami.
Please click here to read about 3 bullish candlestick patterns.
