The overall market trend is relatively easy to evaluate using a simple combination, candlestick signals, and patterns in conjunction with the T-line. This allows for a very accurate assessment of the overall market trend. Additionally, this allows the candlestick investor to take advantage of price patterns that will produce the strongest returns during an uptrend. The J-Hook pattern has an easy price move calculation. Wave one will usually be the same magnitude as wave three. This creates the opportunity to be in strong price moves during a market uptrend instead of merely up trending prices during an uptrend. This also allows for easy to apply option strategies knowing what the magnitude of the next move of a stock price will be. Join us this Saturday, May 2 to learn how to apply the appropriate option strategy with the candlestick pattern. You will gain some valuable insights on how to maximize profitability with option strategies while at the same time dramatically reducing risk. Click here for more info.
The J-Hook pattern is producing some very strong profit potentials. Note how our recommendation on BLUE is a combination of a classic pattern with a bobble breakout/J Hook pattern right at the 50-day moving average. This produces the prospects of a very strong wave three that could take this price move from the $61 area up to the $85 area with a high degree of probability. The same pattern set-up can be seen in TSLA, producing a good option trade set up. Take advantage of the strength resulting from a J-hook pattern breakout as seen in our recommendations on NNA and INSG. These patterns have much better prospects of producing big price moves as long as there is not any major change of investor sentiment in the overall market trend. There are still numerous ‘experts’ predicting the market is going to selloff and test the recent lows. This is a very bullish sign. Let the market tell you what the market is doing!
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Good investing,
The Candlestick Forum team.
