Weekly Watch list July 20th – July 24th, 2020

The slow market uptrend persists, as long as the indexes continue to trade above the T-line. Fortunately, candlestick analysis identifies what we call the “Top Ranked signals and patterns”. When you recognize and understand what each individual candlestick signal illustrates and can recognize when a pattern breakout is likely to occur, this puts the candlestick investor in high probability trades. However, there is even a more powerful candlestick trading process. The Top Ranked candlestick signals and patterns are a combination of the signals and patterns, . That produces more powerful profitable trades. They provide three major benefits. One, they produced an extremely high probability of the direction of a price move. Two, and more importantly, they illustrate when a very strong price move is about to occur. This combination produces optimal entry points for very strong trades. Finally, an additional benefit is that the price move, created by a top-ranked signal and pattern, will usually continue with good strength even if the market, in general, is trading flat or even negative.

The biotech’s as well as the gold stocks continue to produce good profits. The existing strong uptrends in these sectors are now in the process of producing classic patterns or J-hook patterns, indicating more upside. Uptrending markets will produce a lot of slow up-trending stock price moves. The advantage of candlestick analysis is the ability to recognize which uptrending price moves are going to be the strongest moves.

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