The Dow is showing weakness, the NASDAQ is showing strength coming out of a J-hook pattern. This makes having both long and short positions in the portfolio the best strategy. When you apply candlestick signals and patterns to your trading analysis, it allows for the candlestick investor to have much greater probabilities of being in a correct direction trade. This is both applicable to long and short positions. The frypan bottom pattern is continuing to produce good strong profitable results. The probabilities are extremely good that a frypan bottom pattern is going to continue to produce an uptrend based upon the accumulation of investor sentiment that created the pattern and the first place.
Also, when specific sectors of the markets are selling off, as evidenced by Dow-related stocks, short positions will be working extremely well. The probabilities are greatly improved for being in a correct direction of a trade based upon multiple candlestick signals that would illustrate the trend is likely to continue. Or short recommendations on AI were based upon a very strong sell signal, the bearish flutter kicker signal. This implies very strong selling, allowing for being in trades that have greater prospects of producing big price moves versus merely in a slow down-trending stock price. Join us this Saturday, June 12 for a mini spotlight session analyzing how to identify the strong breakout moves. These 60 minutes to 90-minute sessions produce a lot of valuable insights. Click here for more information.
Chat session tonight at 8 PM ET. Chat session tonight at 8 PM ET.
Good investing,
The Candlestick Forum team
