February 2nd Market Wrap-Up
The market indexes appear to be in a sideways 'wait and see' mode. However, this does not diminish the relevance of good bullish or bearish candlestick chart patterns. The lack of a decisive market movement allows individual stock chart patterns to continue. The simple candlestick scanning techniques pinpoint which sectors are acting the most bullish The biotech stocks are setting up, gold stocks are acting well. This allows for profitable trades to occur even when the market is not moving in a general direction. The markets are waiting for something! Reduction of taxes? Resolution for Iran discrepancies? Fortunately, the relatively flat market conditions still produce high profit candlestick trades. With over 10,000 trading entities available to investors, simple candlestick scanning techniques can find the best trades in less than 20 minutes each afternoon.
The J-hook pattern is one of the most consistent and powerful candlestick patterns. It is a very visual depiction of what usually occurs in human nature. That is easily seen in the recommendation of NVRO. Strong price moves usually produce very consistent patterns/waves. The J-hook pattern is very easily identified, especially knowing what is indicated in each individual candlestick formation. Knowing the patterns that are created by the reoccurring human nature allows the candlestick investor to have a high probability of being in the right place at the right time.
Chat session tonight at 8 PM ET with Guest Speaker Todd Gordon. Click here to register.
The Candlestick Forum Team
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