Today’s positive trading is producing a bullish McMuffin pattern in the Dow, a strong signal implying the uptrend will remain in progress. Numerous fry pan bottom breakouts are producing inordinate profits. The classic pattern, a fry pan bottom pattern followed by a J-hook pattern, are also producing high probability trades. As long as the indexes continue to trade above the T line, take advantage of the pattern breakouts. There have been numerous fry pan bottom breakouts over the past two weeks, creating 10%, 15%, 30%, and greater one day profits. The pattern set ups allow candlestick investors to be in the right place at the right time.
The second phase of the fry pan bottom breakouts is in progress. Numerous fry pan bottom huge price moves have already consolidated and started back up, forming the classic pattern. The classic pattern is merely a strong price move created by the fry pan bottom breakout, the consolidation, and then the appearance of the J-hook pattern starting the next wave to the upside. Knowing what occurs over and over in human nature allows the candlestick investor to take advantage of price moves that not only have a high probability of being profitable but also inordinately profitable. The probabilities of being in a high profit trade are enhanced by the Candlestick Forum’s RARE program. Next week, a 12 page e-book will be available FREE to Candlestick Forum members illustrating how to utilize the RARE process, and how it can be applied to the strong sectors, such as the electric vehicle sector, for short-term and long-term trades. Candlestick analysis allows for pinpointing which pattern set ups are going to produce the biggest potential profits in these market conditions. Make hay while the sun shines! www.stephenbigalow.com/rare
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Good investing,
The Candlestick Forum team
