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Introduction to Advanced Candlestick Patterns

Introduction to Advanced Candlestick Patterns

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Introduction to Advanced Candlestick Patterns

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  1. Introduction to Advanced Candlestick Patterns

  2. Fry Pan Bottom Cradle Pattern Jay-Hook Scoop Pattern Belt Hold Breakout Patterns Advanced Candlestick Patterns

  3. Fry Pan Bottom • The downtrend starts waning with the appearance of small trading bodies • As the trend starts slowly curling up, a gap up in price indicates that strong buying sentiment has now returned

  4. Fry Pan Bottom Long Rounded Curved bottom

  5. Fry Pan Bottom – minutes, days, months The indecisive rounding bottom is the predominant factor

  6. Fry Pan Bottom - Past Analysis Big Percent move at top has a different meaning when a pattern can be identified

  7. Fry Pan Bottom measuring point A dimple usually marks the Halfway point

  8. Fry Pan Bottom - A Break Out or Failure? Easy identification of a failure, which makes for easy stop loss procedures

  9. Fry Pan Bottom can become a Cup and Handle Handle CUP Or a J-hook pattern

  10. Fry Pan Bottom – Exuberant buying Want to see break out buying

  11. Fry Pan Bottom – What is expected?

  12. CLWR – Classic FP results

  13. MICC – excellent option trades

  14. VCI Expected results 55% Gain

  15. SQNM Breaking into new highs

  16. INCY What is the entry strategies?

  17. MEOH Option Strategies

  18. SPWRA What does a gap up tell us?

  19. BAS – What do you do with this chart?

  20. MD What pattern?

  21. MGM – Next target? Then what?

  22. What do we want to see at the end of a FPB?

  23. What Are we looking for now?

  24. FPB/J-hook classic Fry Pan Bottom J-hook

  25. Cradle Pattern • The Cradle Pattern is a symmetric bottom pattern that is easy to identify. • A downtrend becomes obvious with a large black candle at the bottom. • A series of small or indecisive trading days trade in a flat area. • A bullish candle, more powerful with a Bullish Engulfing signal, is formed of approximately the same magnitude as a Bearish candle at the end of the downtrend. • This signifies that the Bulls have come out of the indecisive trading area with decisive force.

  26. Cradle pattern

  27. Cradle Pattern

  28. Cradle Pattern what is the predominant indicators?

  29. Cradle pattern

  30. Cradle Pattern at the MA’s

  31. Cradle pattern

  32. Jay Hook Pattern • The first move of the uptrend is very strong. • A candlestick sell signal indicates a pullback about to occur. • After a few days, small indecisive candles start to appear • Doji, small Hammers, Bullish Engulfing signals

  33. Jay Hook Pattern • The first test becomes the recent high • Indecision as found in candlestick sell signals at the recent high becomes a quick indicator to get out of the position • A Bullish candle breaching the recent high illustrates that investor sentiment is taking prices up

  34. Jay Hook Pattern • How to differentiate between profit taking and a full-scale reversal.

  35. J-hook

  36. J-Hook – How to Identify The pull back is stopped when Candlestick buy signals appear Stochastics do not get to the Oversold area

  37. J-hook - what is first criteria? A strong price trend

  38. J-Hook with added confirmation Indecisive trading at a major moving average Adds more evidence of a J-hook pattern potential

  39. J-Hook – Easy Expectations

  40. Scoop Pattern • An extended flat trading area • Followed by a pullback • Buy signals bring price back up to flat trading range • Once price breaks above flat range, look for strong uptrend

  41. Scoop Pattern formation

  42. Scoop Pattern- Completed

  43. Scoop pattern

  44. Scoop pattern off the MA’s

  45. Scoop pattern - Do not scan for a Scoop

  46. Scoop pattern Use it to analyze

  47. Scoop Pattern - What should happen upon confirming?

  48. Scoop Pattern - A strong trend to potential targets

  49. DHI 50 MA resistance?

  50. Mini Scoops