Pattern Breakouts in an Indecisive Market

Although the Dow is trading lower today, it is still a slow uptrend above the T line. The uptrend was upheld with the NASDAQ forming a J-hook pattern off the 50-day moving average, producing strong probabilities of more upside. This allows for high-profit trade setups at breakout points. Frypan bottom breakouts are producing good trades. The advantage a candlestick investor has is the ability to recognize when a high-profit trade setup is in process. This is based upon 2+2 analysis, adding numerous bullish elements to a very quick visual analysis.

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Chat session tonight at 8 PM ET.

Good investing,

The Candlestick Forum team