Candlestick reversal patterns can work well on different time frames, but they tend to be more reliable on longer time frames. This is because longer time frames tend to smooth out the noise in the market and provide a clearer picture of the overall trend. Some candlestick reversal patterns, such as the bullish or bearish engulfing pattern, can be effective on shorter time frames, but they tend to be more reliable when they occur on daily, weekly, or monthly charts.
Here are some general guidelines for which time frames may work best for different candlestick reversal patterns:
Hammer and Shooting Star patterns: These patterns can be effective on both short and longer time frames, but they tend to be more reliable on daily, weekly, or monthly charts.
Bullish and Bearish Engulfing patterns: These patterns can work on shorter time frames such as hourly charts, but they tend to be more reliable on daily or weekly charts.
Morning and Evening Star patterns: These patterns tend to be more reliable on daily, weekly, or monthly charts.
Doji patterns: Doji patterns can occur in any time frame, but they tend to be more reliable on longer time frames such as daily, weekly, or monthly charts.
It's important to note that candlestick reversal patterns should never be used in isolation and should be confirmed by other technical indicators or analyses. Additionally, traders should always practice proper risk management and use stop-loss orders to limit potential losses.