The major benefit of candlestick analysis is that it allows the investor to see what a trend/price would do with a high degree of probability. It will also demonstrate when there is no high probability assessment of a trend. That is currently what is occurring in these markets. There is no established direction. Any trading has to be done on the basis of quick profits off of short-term intraday charts. Otherwise, sitting and waiting for the market to sort itself out is the best strategy. Be patient, a trend will be established sometime in the future, two days or maybe two weeks.
August 26 Daily Market Comments
The major benefit of candlestick analysis is that it allows the investor to see what a trend/price would do with a high degree of probability. It will also demonstrate when there is no high probability assessment of a trend. That is currently what is occurring in these markets. There is no established direction. Any trading has to be done on the basis of quick profits off of short-term intraday charts. Otherwise, sitting and waiting for the market to sort itself out is the best strategy. Be patient, a trend will be established sometime in the future, two days or maybe two weeks.