In order to increase your win rate, you need to look at more than just one time frame. You should use engulfing reversals with short wicks. The bearish engulfing means that the market is going down and the Bullish engulfing means that the market is going up.
You should look at daily charts and then hourly charts to cover different time frames. You want your engulfing candlesticks to have short wicks. If wicks are long, it could mean indecision. Your wicks cannot be more than one third of the candles.
This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. See my website for stocks followed and investment notes. Follow me on Twitter or StockTwits.
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