Can we possibly determine the future trend just from a single candlestick?
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<p id="isPasted">According to statistical analysis of candlestick patterns by one of the well known authors of candlestick trading books (Bigelow or Morris, I don't recall which one - but not Nison), the most successful candlestick pattern is only slightly more than 50% accurate at predicting what the short term price move of the stock will be. That's the best one! That does not give me much confidence to think that the current candlestick bar can do much better than a coin flip's chance of predicting the direction of the next candlestick's move.</p><p><br></p>
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