There are only parades in the main park, not the studios at the moment.
My favourite spot for the main OUAD parade is near IASW. If you get there about 15 minutes before the parade is due to start (midweek anyway) you'll be fine to get a really good spot there.
For Candleabration, I'm not sure to be honest where the best spot is. We've been at the fence around the hub to see it, and that was fine, although some of the Castle was obscured by the trees there. I've also stood on the pavement near the information board at the top of Main St to watch this - but didn't find this a particularly good spot as people then stand in the road in front of you and hoist their children onto their shoulders .
oh yeah course it is LOL!!... I find it so hard to try think of what the shorthand is sometimes having been only once ha ha!!! And I wouldnt have got that because I call it Small world LOL!
We also stand outside IASW (facing it) as it usually stays fairly quiet. The Princesses have also been dancing around there, I'm not sure where else they stop for a dance.
Another advantage is it leaves you free to get on other rides while most people are still watching the parade further down
Near IASW is definately good because in my experience it's always been fairly quite so you don't have to arrive too long in advance and wait around for ages. Plus, with it being quiet, there's rarely people stood in fron of you blocking your view.
BUT, having said all that, my favourite place to watch is on the bit of pavement facing the castle. It just feels so Disney-ish and leads to some really pretty photos It does get quite busy there though so i'd arrive a good half hour in advance of the parade starting