and The Candlestick Forum
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Candlestick power trades are easy to identify. Candlestick power trades merely put all the stars in alignment. The first assessment is the direction of the market. After two weeks of indecisive trading, the indexes showed what the decision was after the indecisive trading. Today the indexes traded lower, closing below the sideways channel and below the T line. This produces much stronger probabilities that wave three to the downside is in progress. However, the CPI report tomorrow is going to probably affect the market trend one way or the other. Currently, there are a number of bearish charts that are not merely showing a downtrend, but candlestick signals show which downtrends will have the most power. Knowing what each individual candlestick signal illustrates allows the candlestick investor to take advantage of the power trades that are correlating with the overall market. This allows for accurate and profitable stock trades as well as ultimate timing for option strategies.
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Stephen Bigalow.
The indecisive trend of the market is illustrated by the indexes hovering at the T line area. The biggies continue to trade in a sideways mode, AAPL up right now, AMZN down. However, the strong patterns continue to perform well.
Profitable candlestick patterns have a dual benefit. Profitable candlestick patterns are easily visually recognized and they produce a high probability of expected results. This is to the fact that investor sentiment works the same way time after time. The strongest individual candlestick signal is the kicker signal, revealing a dramatic change of investor sentiment. Profitable candlestick patterns, such as the fry pan bottom, or more compelling, the classic pattern, a fry pan bottom followed by a J-hook pattern, produce high probabilities of the expected price move as well as a substantial profit result. Analyzing candlestick charts allow investors to assess a price move with a much higher degree of accuracy because of the reoccurring nature of investor sentiment. Currently, the lack of direction of the overall market provides a specific trading strategy for candlestick investors. Both long and short positions should be established in the portfolio until the market shows a definite trend movement. The direction of the trend is much more easily assessed when using the graphics of candlestick signals. Today, the Dow failed at a resistance level and pulled back into the sideways trading range. A close back below the T-line in the major indexes would indicate a wave three to the downside.
The indexes continue to trade indecisively, up one day down the next. The Dow is currently in a sideways trading range, not showing any decisive direction. This continues to make the analysis of each individual stock chart the top criteria. Long positions as well as short positions are working in these market conditions.
The consolidation phase of this market trend remains in progress, or a better way to state it, the market is still indecisive. Have both long and short positions in the portfolio.
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.
High-profit trades are easily identified using candlestick signals. High-profit trades are the result of identifying when there has been a dramatic change in investor sentiment. The kicker signal and the best friend signal demonstrate powerful sentiment coming into a price move. The major benefit of candlestick signals and patterns is the expected results coming out of these trade setups.
Most investors are afraid to chase a price move. Knowing what the results are from strong candlestick signals allows an investor to move into a trade with confidence that more price movement in that direction is expected. This produces a very comfortable trading platform. Utilizing candlestick signals and patterns create trade setups that have a high probability of expected results. Learn how to use the probability factors of candlestick analysis and you do not have to depend on anybody’s opinion or projections. You gain control of your own investment decision-making.
Chat session tonight at 8 PM ET. Click here to register.
Good Investing,
Stephen Bigalow.
The market indexes remain in an iffy stage. The Dow has pulled back to test the T-line. Note that numerous stocks have use the T-line as support so far today. However, be aware of the lack of bullish indications in the indexes. Each individual stock chart remains the prominent criteria in conjunction with the T-line.
June 9th Daily Market Comments
The Dow and the S&P 500 trading lower today have moved those indexes back below the T line. The NASDAQ is hovering at the T line. The indecisive flat trading of the indexes over the past two weeks produce the prospects of another wave to the downside based upon stochastics being in the overbought condition and indexes not trading with any great upward trajectory. Be careful of long positions unless they have compelling bullish charts. Start orienting more toward the short side.