The market’s sideways mode still indicates indecision based on Fed announcement expectations. However, this does not deter from using simple scanning techniques to find price breakouts. As illustrated today in our chat room, IEP was immediately identified as a fry pan bottom breakout with a best friend signal through the 50-day moving average. These price breakouts produce expected further price movements. This is based upon a straightforward premise. After identifying a price breakout, the Japanese rice traders have identified what to expect. You can dramatically improve your probabilities of being in the right direction at the right time and in price moves that will produce excessive profits. Learning candlestick signals and patterns significantly improves your probability of identifying when new investor sentiment is coming into a stock price move. You do not have to be a sophisticated technical analyst to take advantage of what the Japanese rice traders have provided regarding graphics that illustrate high-probability trade setups.
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Good Investing,
Stephen Bigalow
