May 4th Market Wrap-Up
The healthcare bill has passed the house, still more hurdles to overcome but at least the first hurdle is out-of-the-way. This takes a little bit of doubt out of the markets. Nothing decisive as far as any buying but at least evidence that the earlier selling had been offset. Simple analysis – as long as the market indexes remain above the T-line, consider the uptrend still in progress. This months training, on how to use the T-line effectively, will demonstrate how the T-line is the most powerful trend confirmation indicator available for investors. Although the final results of today's trading is relatively flat, it still provides the evidence that there has not been any change of investor sentiment. For most investors, this does not provide an optimistic outlook. However, for the candlestick investor it continues to provide market conditions that allow the strong signals and patterns to work profitably. Understanding what creates frypan bottom patterns and J-hook patterns produces trading opportunities that are going to work with high probability results even when the overall market conditions remain relatively flat.
Candlestick signals work in all markets! When your trading futures, Forex, bonds, stocks or tulip bulbs, candlestick analysis works the same way when charting any trading entity. Huge profits have been made in the June live cattle trade. The entry point was very simple. Confirmation of a J-hook pattern created the optimal time to be buying. Once the position was established, June live cattle had successive up the limit price moves. Utilizing the information provided by the T line allowed for taking profits at the most optimal time. Human nature works the same way time after time. Knowing the simple rules that can be applied to candlestick signals allows an investor to optimize their profits based upon the reoccurring results of investor sentiment.
Chat session tonight at 8 PM ET, investigating the confirming attributes of the T-line. Click here to register.
The Candlestick Forum Team
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