Today’s market action clearly illustrated how candlestick patterns work effectively in spite of the overall market direction. Frypan bottom patterns are producing very strong profits, DKNG, WKHS, and PENN all moved up with good strength even though the indexes were trading off. The “message” is another high-profit trade set-up that works extremely effectively. Today KODK confirmed the “message” of yesterday.SRNE provides the same opportunity. Today’s gap up, followed by profit-taking, produces a high probability trade entry on any positive trading tomorrow. Utilizing the patterns and signals setups allows candlestick investors to constantly produce profitable trades in their portfolio.
Today’s gap down in the indexes showed a little bit of recovery but not enough to indicate the bulls or the bears being in control. This provides a sideways market potential. Fortunately for the candlestick investor, the sideways mode of the general market does not deter being able to scan for high-profit trades. Once a good trade is executed, the T line is one of the most productive trend indicators. When used with candlestick signals and patterns, the natural support and resistance level of the T-line dramatically enhances the probabilities of a trend continuing. Utilizing this combination keeps investors from getting whipsawed in and out of profitable trades. Having the ability to analyze a trend correctly keeps the emotional decision-making process out of one’s investing. Join us September 26 for a full-day training of how the common sense aspects built into candlestick analysis dramatically reduces your emotional investment flaws.
Chat session tonight at 8 PM ET with Eric Wilkinson. Click here to register.
Good investing,
The Candlestick Forum team
