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Candlestick Trading Forum

March 18th Market Direction

The combination of candlestick signals and confirming trend indicators makes analyzing a market trend or a price trend very easy. Currently the major indexes have a very easy trend analysis based upon the reversal signals two weeks ago and the continued bullish trend staying above the T line. The slow steady uptrend provides the analysis of consistent bullish sentiment without the appearance of any exuberance yet coming into the trend. This indicates a more solid steady upward progress. The slow steady uptrend provides a major benefit to the candlestick investor. Identifying and participating in candlestick pattern breakouts are going to have better probabilities and better profitability than merely uptrending stocks. The lack of any major change in the overall market investor sentiment allows for the breakouts to perform with much greater profitability because of the lack of selling sentiment creating any possible hesitancy in breakout moves.

The frypan bottom is a pattern that benefits greatly when a breakout occurs and there is no evidence of an overall market trend reversal. Witnessing pattern breakouts through resistance levels such as moving averages dramatically improves the probabilities of big price moves. This is based upon the reaction of a pattern breakout that exhibits investor results that have occurred for centuries. It is logical to expect many stock positions to move up steadily during a slow uptrending market. The benefit of identifying candlestick pattern breakouts allows for much greater profitability knowing the expected results from a pattern breakout. Currently numerous stock price movements are producing excessive profitability based upon the expectations resulting from signals and patterns that are easy to identify.


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Good Investing,

The Candlestick Forum Team

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