The candlestick charts revealed another strong bullish signal today, the J Hook pattern. Two weeks ago the indexes produced a very powerful reversal signal on the candlestick charts, the McMuffin pattern. This pattern is created by a MorningStar signal, one of the 12 major candlestick reversal signals, followed by a Doji sandwich signal. Both of the signals imply investor sentiment has reversed and there’s going to be more upside. When you combine the two, it adds additional probabilities an uptrend is in progress. Today’s candlestick charts revealed the J Hook pattern. This adds credence to the McMuffin pattern. The combination of a McMuffin pattern followed by a J-hook pattern indicates that bullish sentiment is now taking control. Remember, the more talking head experts that predict a test of the lows, the higher the probability the uptrend has started.
Additional confirmation can be seen in some of the big stocks such as Apple, Amazon, Nvidia. When they are performing the same strong bullish candlestick charts, this indicates bullish sentiment. The underlying factor to identifying the bullish patterns is that it reveals that the fear factor that was causing the severe downtrend in the markets are dissipating. Today, there were dozens upon dozens of bullish reversals in individual candlestick charts. This allows the candlestick investor to cultivate the best trade potentials from a supply of strong chart patterns. This produces the prospect of placing investment funds in the best of the best reversals. Simple analysis applying confirming indicators, the strength of the signals and patterns, and the potential targets, provides the candlestick investor the opportunity to be participating in the most strongest price moves. These price patterns producing high probability results can be applied to all time frames. Join us in our training session for utilizing the patterns to produce high profit daytrading results. stephenbigalow.com/daytrading
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Good investing,
The Candlestick Forum team.
