Archives for June 2020

The markets are moving in a manner that makes it very profitable trading candlestick patterns. The Dow and the S&P 500 are trading relatively flat. But the NASDAQ continues to trade above the T line, revealing a J-hook pattern in progress. This merely implies the lack of any selling pressure in the indexes, the likelihood of a continued uptrend is fairly strong. These are market conditions that allow the candlestick investor to utilize simple scanning techniques to identify which stocks and/or sectors are producing the strongest bullish signals. Currently, gold prices continue to head higher and numerous gold stocks have produced very strong buy signals. Our recommendation today on GFI was based upon a best friend signal that gapped the price up through the resistance level, indicating wave three is now in progress. The best friend signal, a Doji followed by a gap up, not only produces high probabilities of a bullish trade, but also indicates a strong potential of a very strong profit trade.

The fry pan bottom pattern has been working extremely well in these market conditions. Numerous stocks have been producing profitable trades based upon the identification of a fry pan bottom i.e. NVAX, LVGO, MGNX. There are a number of stocks that have produced fry pan bottom patterns and are currently at breakout levels. The advantage of identifying a pattern at a breakout level means there is no waiting time to see if a pattern breakout is going to perform. CHGG and VIVO broke out through resistance levels today, making them very good high probability trade set ups upon positive opens tomorrow. This is the type of information that allows a candlestick investor to be in the absolute right place at the right time.

Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team.

Lethargic trading days, in the overall market, amplify the significance of candlestick signals and patterns. The market indexes are trading relatively sideways for the past few days. The Dow below the T line, the NASDAQ above the T line, indicating no major direction in the markets. Fortunately, candlestick patterns allow for consistent profitability. Note how the fry pan bottom patterns continue to show good strength. Add the analysis of the Doji sandwich confirming the probabilities of the fry pan bottom’s performing. You gain valuable insights as far as establishing high probability/maximum profit trading strategies. Join us this Saturday for a comprehensive analysis identifying the high profit breakout set ups utilizing candlestick patterns. Then, learn how to apply the appropriate trading strategies, stock and/or option positions. Having a high degree of probability that a price will not only continue to move in the correct direction, but also with a very strong price move, logical option strategies can be put in place to maximize profitability while at the same time dramatically reducing risk.

Our recommendation on NVAX was based upon a fry pan bottom set up with the expectation of more upside after yesterday’s Doji sandwich. LVGO produced the same scenario with the expectation of the development of a Doji sandwich also furthering a fry pan bottom trajectory. Learn how to develop high profit option strategies very quickly and easily knowing what to expect coming from a candlestick pattern set up. Knowing what each pattern and signal implies, based upon centuries of confirming results, produces a trading strategy that constantly puts the probabilities in your favor. Join us this Saturday, you will gain valuable insights on how to maximize your profitability. You will not be disappointed. https://special.stephenbigalow.com/breakout-trading/

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

Good investing,

The Candlestick Forum team.