The Dow produced a shooting star/Harami signal today in the overbought area. Look for lower trading tomorrow. This was accentuated with a bearish kicker signal in the NASDAQ. This combination produces strong probabilities that profit-taking/bearish sentiment is starting to take control. Today’s major candlestick reversal signals should immediately change the trade orientation of short-term and swing traders. The probabilities are extremely strong there will be more downside, you want to be trading in the bearish direction. A major advantage for candlestick investors is witnessing a change of investor sentiment well before most investors. Witnessing candlestick signals that are implying the bears have taken control allows for immediate closing of long positions that are not looking strong. Our recent morning and afternoon comments have been stressing to have both long and short positions in the portfolio. Individual candlestick signals provide much more clarity as far as assessing the direction of the overall market trend. This is information that you can utilize for trading candlestick analysis as your main trading platform or applying candlestick information to any trading system. The information built into each individual signal allows for a much more clear confirmation of price movements. Join us on March 27 and 28th for a two-day full comprehensive training on how to utilize candlestick signals. This will change your investment perspectives for the rest of your investment career.
Chat session tonight at 8 PM ET. Click here to register.
Good investing,
The Candlestick Forum team
