Candlestick analysis allows for a much more accurate assessment of the nature of a trend. Although the Dow was down, it was not a major decisive candlestick formation. The S&P 500 traded lower but not decisively lower. The NASDAQ traded positive on the day. The lack of consensus is a good indication that there is no major change of the current trend, investor sentiment has not changed. This provides candlestick investors the opportunity to identify which sectors are acting the strongest. As pointed out in the ” stocks to watch ” YouTube this weekend, the gold and silver mining stocks had good bullish prospects if they traded positive today, which they did. Simple confirming techniques illustrate which bullish signals and patterns that are confirming. Whether you are day-trading or swing trading, the open price, after a signal or pattern set-up provides a high probability of a trade direction. Day-trading profits are greatly enhanced knowing which direction a trading entity is likely to move during a specific time frame. This is what is going to be demonstrated in this weekends Day-trading training session. Join us, you will gain a lot of insights that will greatly improve day trading and swing trading entry strategies. Click here to register.
Additional indication, that there is a lack of selling pressure in this trend, is illustrated in the big-name stocks. AMZN was up $125 today. NFLX was up $25 today.TSLA, AAPL and NVDA all traded positive. Although the Dow was trading lower, the positive trading in these major traders reveal bullish sentiment is still in the overall market conditions. Finally, knowing how to utilize the T-line will take a great amount of anxiety out of your trading emotions. There will be numerous trading days where up trending stocks are trading lower. This usually creates fear and consternation in many investors. However, the T-line provides an extremely high probability trend indicator. As long as there is not a candlestick reversal signal AND a close below the T-line, your probabilities are greatly inclined toward continuing an uptrend. If you have problems controlling your emotions when you’re money is on the line, these simple candlestick techniques will greatly improve your self-discipline. Currently, the T-line support indicator reveals the uptrend is still in progress. You have the benefit of high probability expected results based upon candlestick signals and the T-line trend combination.
Chat session tonight at 8 PM ET.
Good investing,
The Candlestick Forum team.
