and The Candlestick Forum
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In order to download click on the link below, once on the video page you will click on the three-dotted vertical line located at the bottom right-hand side of the video player and click on “download” to save to your files.
Stock Chat – Thursday 10/28/21
An impressive aspect of candlestick analysis is not only being able to identify pattern setups, but also allowing you to pinpoint the exact timing to get into successful trades. As illustrated in some of the frypan bottom breakouts, candlestick signals reveal the confirmation of the pattern breakout at the exact time to enter the trade.LCID was clearly identified as a breakout based upon a trend kicker signal. This is a 2+2 analysis, identifying a strong bullish signal at a major breakout level. Rhetorical question – do all breakout moves produce huge profits? Definitely not, but utilizing candlestick signals at pattern breakout levels dramatically improves the probabilities of being in a price move with significant profits.
The confirmation of patterns are greatly enhanced utilizing the T line. This trend confirmation indicator dramatically improves the probabilities for entering a profitable trade, maintaining a profitable trade, and illustrating when it is time to close out a trade. Most investors have the problem of having some of their positions trading up while others are trading down, producing a mediocre result. Candlestick analysis alleviates that scenario. Combining the candlestick signals and patterns with the T line dramatically improves the probabilities that a vast majority of portfolio trades will be moving in the correct direction, some with big profit results.
Chat session tonight at 8 PM ET. Click here to register.
Good investing,
The Candlestick Forum team
The Dow closed right on the T line yesterday. Currently it is showing positive trading, a bullish Harami, indicating the T line is continuing to act as support. The other indexes are up strong enough to have negated any of the sell signals. Numerous trend kicker signals and bullish Harami’s are in the process of forming. The uptrend continues as long as the indexes do not start trading back down through today’s open.
No change of investor sentiment, the Dow is trading lower today while the NASDAQ is trading higher, rotation and profit-taking, not yet any change of investor sentiment. Continue to stay long in good long positions as well as good short positions. The T line remains the ultimate trend factor.
Stay long, but be aware of exuberance starting to come into the markets, as illustrated in TSLA and NVDA. The solid moving sectors are still the electric vehicle and oil stocks.
A major advantage of candlestick analysis is that it allows the top-ranked signals and patterns to illustrate which price moves are likely to have the highest probability of moving in the right direction and produce an extremely profitable price move. Although all boats will likely rise in a rising tide, the top-ranked signals and patterns identify the boats that are going to arise much faster. The most powerful and frequent top-ranked signal is the best friend signal, a Doji followed by a gap up. Today’s trading revealed a number of good trade setups based upon the best friend signal. Identifying the signals allows investors to participate in the strongest trades when an up-trending market is in progress.
Additionally, the identification of a top-ranked signal can also reveal the strong candlestick patterns that are confirming. This is what we call the 2+2 analysis. The more aspects we can put into our visual analysis, the higher the probability were going to be in a strong profitable trade. Currently, the market trend does not indicate any reversal signals. However, the overbought conditions continue to make it imperative to keep safety stops in place.
Chat session tonight at 8 PM ET.
Good investing,
The Candlestick Forum team
Note that numerous stock prices consolidated back to the T-line on Friday. Today’s lack of selling in the market indexes are indicating numerous stocks have supported at the T-line and continue to trade higher. Although the market indexes are trading near or at all-time highs, there is not yet a candlestick sell signal being confirmed. Stay predominately long but have safety stops in place.
The uptrend continues with good evidence of profit-taking consistently working along the way. Numerous stocks show backing and filling at some point during a trading day but then continue toward the high end of the range going into the close. This provides a healthy uptrend without evidence of exuberance. The strong patterns continue to work effectively.
To Download recorded sessions;
In order to download click on the link below, once on the video page you will click on the three-dotted vertical line located at the bottom right-hand side of the video player and click on “download” to save to your files.
Stock Chat – Thursday 10/21/21
At the end of the webinar Steve announced his upcoming “Top Ranked Candlestick Signals and Patterns” event, which he’ll present on Saturday, October23rd.
This full day of training workshop will provide you with visual perspectives that will improve your investing for the rest of your life.
Click here for more information.
October 29th Daily Market Comments
A consolidation day, although the indexes are trading lower, they are trading above where they opened, indicating the lack of any aggressive selling. Politics of Washington still playing a major element as far as market indecisiveness. Use the T line as your ultimate trend indicator. Electric vehicle stocks continue to show strength.