Can you trade successfully with pure candlestick analysis only?

ZenTrader

Hi, I've been watching binary options tutorial in youtube for a while now. They don't use any kind of indicator. They only use Japanese candlesticks as their main technical analysis tool because they said that the best indicator is candlesticks which is true for me as they give very detailed info about the price action in the market, though they do use trend lines and support and resistance levels. I'm wondering if somebody here uses pure candlestick analysis only?

The_Geek_MH

not pure but candles are a main part of my strategy, if its not in the candles it isn't happening.

ZenTrader

Thanks a lot for answering my question. I appreciate it.

The_Geek_MH

I also use trend line, support and resistance, MACD and stochastic in daily life.

nikkiscy

ZenTrader said:

Hi, I've been watching binary options tutorial in youtube for a while now. They don't use any kind of indicator. They only use Japanese candlesticks as their main technical analysis tool because they said that the best indicator is candlesticks which is true for me as they give very detailed info about the price action in the market, though they do use trend lines and support and resistance levels. I'm wondering if somebody here uses pure candlestick analysis only?

probably yes if you are experienced. I don't use them personally, I use bars, however, I can trade just with bars without any indicator If I really want.