Hi all,
I have read that trading on higher time frames can give more reliable results when trading candle stick patterns.
Are there any statistics anywhere which confirm this on historical chart data?
Is this increased reliability because on the higher time frame the price is less affected by for example news events, which on a smaller time frame have the potential to blow any chart pattern out of the water, because after such an event the price will travel a lot further in relation to the size of the pattern?
Thanks.
I have read that trading on higher time frames can give more reliable results when trading candle stick patterns.
Are there any statistics anywhere which confirm this on historical chart data?
Is this increased reliability because on the higher time frame the price is less affected by for example news events, which on a smaller time frame have the potential to blow any chart pattern out of the water, because after such an event the price will travel a lot further in relation to the size of the pattern?
Thanks.