The nature of the market trend is much better analyzed with candlestick graphics. The current uptrend, albeit slow, is providing very strong pattern profit potential. Currently, the J-hook pattern is producing strong profits. These market conditions allow for taking advantage of strong candlestick patterns without the concern of bearish investor sentiment diminishing the upside potential. The oil sector is producing strong J-hook set ups. A candlestick pattern provides numerous benefits. First, the direction is highly probable, followed by a strong price move.
BLNK and VERI have formed J-hook patterns which further confirm a classic pattern. The classic pattern is a fry pan bottom breakout followed by a J-hook pattern. This combination produces extremely high probabilities of excessive more upside. Because investor sentiment works the same way time after time, utilizing the information built into candlestick signals allows for constantly putting investment funds in high profit/high probability trades.
Chat session tonight at 8 PM ET, identifying the best sectors.
Good investing,
The Candlestick Forum team
