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July 17th Market Direction

Today's relatively flat trading has not deterred the opportunity to make some big profits in some of the candlestick breakout patterns. . The indexes formed Doji type day, not changing any of the trend trajectory's. But as the Japanese Rice traders always profess, always take heed when a Doji appears. Currently the Doji in the NASDAQ is forming at the recent highs but the other indexes are not showing indecisive trading at any particular resistance level. This continues to illustrate the bullish candlestick pattern breakouts that produce high probabilities that the uptrend will remain in progress. This allows investors to remain predominantly long until a change of investor sentiment. A change of investor sentiment is easily identified by witnessing a candlestick sell signal and a close below the T line. This is a very simple analytical process. You do not have to be a sophisticated technician to utilize the simple visual information built into candlestick charts.

AUPH is up over 12% on the day after a bobble breakout. Knowing what should occur after specific patterns allows investors to move quickly and aggressively without having to wait for additional confirmation. The bobble breakout seen in AUPH made entering today's trade very uncomplicated. Logic says, what should be seen after a candlestick pattern or signal? Bullish confirmation. This simple trading process allows candlestick investors to identify which trades are working correctly even before the market opens. Taking advantage of price breakouts is merely the identification of what usually occurs in human nature time after time. No matter what trading program an investor is using, utilizing candlestick charts can greatly enhance the application of that trading technique. However, because candlestick signals and patterns were developed based upon the high probabilities of results occurring after signals and patterns were identified makes candlestick charting a very powerful trading platform in its own right.

We will conduct a "Members Only" chat session tonight at 8:00 p.m EST.

Good Investing,

The Candlestick Forum Team

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Candlestick Trading Forum