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Investors enthusiasm continues to move the Santa Claus rally. Do not be surprised to see some profit-taking going into the weekend before the end of the day. However, as illustrated by the confirmation of the inverted hammer signal in the oversold condition, bullish sentiment still remains in this market, especially if the indexes remain above the T line. Short positions that have been showing strength should be stopped out. Stay predominantly long but as always, stay nimble. … [Read More...]
One of the truisms of candlestick analysis is that when an inverted hammer signal confirms, especially in the oversold condition, the probabilities of a reversal is an extremely high probability, unofficially 95% or greater. Thursday's positive trading, trading well above the T-line, and the NASDAQ gapping up Thursday, adds more credibility to the reversal. Short positions should be closed upon bullish confirmation and long positions can be added to the portfolio as long as the market indexes/stock price stay above the T-line. … [Read More...]
Tuesday's inverted hammers in the indexes require bullish confirmation Wednesday. Currently, Wednesday's positive trading reveals indications of positive support at these levels. However, it is crucial that today's trading does not take the indexes back down through the open. With the market conditions in the oversold condition, any bullish trading from these levels would indicate a bottom is setting up. Continue to have short positions in the portfolio but look to add long positions but be nimble. … [Read More...]
Find Great Stock Market Trades with Trading Breakout Patterns Looking back at older blog posts in order to dislodge my writer’s block I came across a very good blog article where I discuss trading breakout patterns. While this information is dated it is worth discussing again as it depicts a very good example of how you can find great stock market trades with trading breakout patterns. Using the candlestick patterns to interpret the results of a breakout situation offers a massive advantage to the Candlestick investor. As you see also see at the end of this blog post, I offer a Free Trading Breakout Patterns Course. Once you complete this 100% complimentary trading session, you’ll walk away with unique new abilities like: Knowing the difference between the safe time to get into a trade and when it’s best to just step aside (so many traders get this WRONG!) Figuring out how to handle a fast moving trade… this is where traders make or break their accounts. Realizing when a breakout is about to occur AND knowing what to do before you miss the boat or things get out of hand Plus much, much, more. Before you sign up however, please read the blog post below and see how trading breakout patterns work. You can sign up to receive this course now or later! One main advantage of Candlestick patterns is that they can detect dramatic changes in investor sentiment. One of the main profit potentials for making money on big stock market trades is being able to analyze the investor sentiment upon a stock "breakout" situation. A breakout is the dramatic movement of a stock market trade moving out of its usual trading area. It also has the component of a significant percentage increase in its standard daily trading range. This is usually complemented by a massive increase in volume. A breakout is typically the result of an unforeseen event or surprise result of a company's operations. This can be affected by both internal as well as external elements. … [Read More...]
The indexes have moved back to the expected support levels. The Dow is now trading in the 50 day moving average area and the NASDAQ has gapped down Tuesday right to the 50 day moving average. The indexes have moved from the overbought levels back down to the oversold levels. This would give good prospects for watching candlestick reversal signals in the next day or two of trading. Be prepared to cover short positions and start adding back to long positions but make sure reversal signals are confirmed. … [Read More...]