Candlestick pattern breakouts are working very effectively in this market environment. Candlestick pattern breakouts have a much better probability of working profitably when the analysis of the market trend, in general, remains bullish. This is based upon a very simple factor. As long as the market indexes continue to trade above the T-line, it has to be assumed the uptrend remains in progress with a high degree of probability. Note on the charts, the Dow used the T-line as a support level Today. This is significant because nobody has the T-line on their charts, which provides additional evidence the T-line acts as a natural support and resistance level of human nature. Knowing the uptrend is in progress but may be still in a waffling/whipsaw type nature, moving too quick trades, such as day-trading becomes prudent. Candlestick pattern breakouts makes for very high profit/high probability trades. Candlestick analysis works on any time frame. If you are a day trader, the signals/patterns work extremely well on a one-minute, five-minute, ten-minute chart combination. Join us this Saturday for a day-trading training. This will just be implementing common sense pattern breakouts for short-term trades. Click here to register.
Chat session tonight at 8 PM ET with Stephen Bigalow. Click here to register.
Good investing,
The Candlestick Forum team.
