The Morning Star signal off the 50-day moving average allows candlestick investors to identify when the selling has stopped in the indexes are moving positively again. Today’s positive trading moved all the indexes back up above the T line. This is an extremely high probability indicator the uptrend is remaining in progress. The market reversal signals also provided the extra impetus to take profits on short positions, especially when bullish reversal signals were appearing. This simple visual analysis allows investors to move much more quickly to close out profitable positions and move to other potentially profitable positions. Currently, the J-hook pattern is producing extremely good high probability/high-profit trades. This also creates the opportunity to put on good option spread strategies.
Join us this Saturday, August 28 for a candlestick mini spotlight training on how to identify all the elements for taking profits. The logic built into candlestick analysis is very simple. These sessions give you more than your money’s
Chat session tonight at 8 PM ET.
Good investing,
The Candlestick Forum team
