I have been experimenting 5 minutes candle trading for the past couple of days and the result is fascinatingly left in balance. As the price fluctuate the earning and losing also keep in balance which means the amount of losing and winning is almost identical.
Even though this sound like a pointless trading but it does give the insight experience about trading in short term. There is a lesson to be learn regarding the candlestick, MACD, and stochastic.
The discovery from this experience.
1. Candlestick move 2 by 2 in general. It means continuation or correction might happen after 2 candlestick has been formed.
2. MACD and Stochastic confirmation. If the two indicators move in the same direction. At least 2 candlestick will be formed in the direction where MACD and Stochastic move.
3. Support & Resistant Level. Plays important part to stop the movement from happening.
So in summary if the MACD and Stochastic move in the same direction meaning that 2 candlestick will be formed in that direction. However if it is occurring at the support and resistant level just be careful because it could be fake movement especially when the market movement is overbought or oversold. That's all the finding for the past couple of days and this experiment will continue for another 1 month to see the consistency of market movement.
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