Archives for August 2019

August 7th Daily Market Comments

August 7, 2019

After a hard selling like we’ve seen in the markets over the past week, a reversal requires a confirmed reversal signal. Yesterday’s bullish Harami had the potential of starting the markets backup but as always, a candlestick reversal signal requires confirmation. With the continued selling in the indexes, especially opening below the open of yesterday, the strength of the selling is still evident.

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Filed Under: Daily Stock Market Comments

08/08/2019 Stock Chat with Steven Brooks

August 2, 2019

In order to download click on the link below, once on the video page you will right click on the video then hit “download” to save to your files.

Stock Chat – Thursday 08/08/19

At the end of the webinar Steven offered his “Market Hero” product exclusively for our community! 

Market Hero is a community of like-minded traders who get the best of both worlds. They have access to 8 dozen+ simple strategies which can be used in all types of account and with stocks or options. Not only do members have access to over 100 video lessons, but they also receive like weekly webinar training, a private Facebook group, 24/7 email support, trade alerts, and a one-on-one consultation. 

Click here for more information. 

 

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Filed Under: Stock Chat

August 1st Market Wrap-Up

August 1, 2019

Today’s trading illustrates why having stop losses at logical candlestick levels produces much safer trade positions. Candlestick signals are created based upon where they opened and where they close. As witnessed in today’s trading, numerous stock positions opened and traded positive. But when the tariff tweak occurred, many bullish charts became bearish charts as prices moved back down through open prices. The candlestick investor can identify that a bearish signal is more likely to occur when a bullish candle trades back through the open and is now creating a bearish reversal signal. Not only do candlestick signals and patterns reveal when high profit trade set ups are occurring, they also clearly indicate when those trades set ups have not confirmed.

Can all announcements be predicted? Definitely not, making the logic of candlestick formations very simple. A candlestick formation is based upon an open and a close. After yesterday’s hard selling in the markets, investor sentiment had broken the sideways trading mode of the markets that had been established for the past four weeks. The benefit created by candlestick charts reveals the direction of trends because of investor sentiment. Had today’s tweak occurred during a strong uptrend, the result may have been very minimal. The fact that bearish sentiment had taken over the previous day made the magnitude of today’s announcement more powerful on the bearish side. Because of the simple scanning techniques for finding both long and short trades, candlestick analysis makes it logical to have both long and short positions in the portfolio. Sometimes the majority of the positions will be on the long side while other market conditions make having the portfolio oriented to the short side much more logical. But having a mixture of long and short positions, based upon the probabilities that numerous short positions will work profitably in an uptrend as well as long positions will work well in a downtrend. The probabilities of being in a correct trade at the correct time is dramatically improved with very simple scanning techniques.

Chat session tonight at 8 PM ET. Click here to register.

Good Investing,

The Candlestick Forum Team

 

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Filed Under: Free Newsletters

August 1st Daily Market Comments

August 1, 2019

The apparent knee-jerk reaction about interest rates in yesterday’s trading is being pretty well offset in Today’s trading. This does not indicate there may be any change of the sideways motion of the markets, but it does illustrate yesterday’s selling was not a major change of investor sentiment. The T-line worked as a very efficient indicator pertaining to individual stocks, demonstrating a lack of change of investor sentiment on positions that sold off but did not close below the T-line. Continue to hold long positions that remain above the T-line as well as maintaining short positions that are not demonstrating reversal signals.

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Filed Under: Daily Stock Market Comments
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