September 22 Market Wrap-Up
Is this merely a bounce in the market or is this the start of a new uptrend? Candlestick patterns provide a much more clear answer/analysis. When a pattern develops, the results are usually high probabilities. Currently the indexes have created a scoop pattern, a handle that involved flat trading followed by a pullback and then an upturn. This process creates the scoop pattern which has high probability expected results, a slingshot effect to the upside.
There are numerous high profit patterns in candlestick analysis. The frypan bottom and the J-hook pattern have worked very effectively during the relatively lethargic trading in the markets of the past few months. The slow curve produces not only high probability results but extremely profitable trades. A breakout of a slow curve pattern produces big gains when trading stocks but huge gains when trading options. Witnessing a slow curve pattern provides the ultimate timing for buying calls just before a big breakout move.
Public Chat session tonight at 8 PM ET with guest speaker Greg Herlean. Click here to register.
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