Japanese Candlestick Pattern

Do you have the problem of deciding which duration chart is most suitable for Candlestick Patterns for intraday trading?

1,2,3,4,5,10,13,15,30,60 minutes?

Today i have a nice chat with one of the visitor from Invest Fair about this topic. I told him that 1 and 2 minutes are not so reliable even if you are a scalper. The candle will not have enough time to form. His reasoning was every minute is very crucial to the scalper. I told him even if you use 3 minutes charts, your chart still streaming every second to minutes.

In my experience and research, (3,5,10,13,15) minutes are very reliable. Personally i use 3 minutes and 5 minutes for scalping. This is the best combination that I have always use in scalping. This is because many people uses 3 minutes and 5 minutes for day trading. It allow the candles to form.

The last thing that make this tick is none other than fibonacci. (3,5,10,13,15) minutes are basically fibonacci numbers. So that is the reason you have 13 minutes candle in the chart.

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