The reliability of candlestick patterns is not inherent to the pattern itself, but largely depends on its context of occurrence and the confirmation from other indicators. This means that while patterns provide valuable signals, they are not magic bullets. For example, a bullish reversal pattern is much more significant if it forms at a key support level or after a prolonged downtrend. Additionally, it is crucial to wait for the confirmation of subsequent price action or other technical analysis tools, such as moving averages or volume, to validate the signal.
