Patterns to Focus On (& Avoid) In the Stock Market

Stock patterns are a huge part of day trading. The sooner you can recognize good patterns versus mediocre patterns, the better.

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There are many patterns to learn about and understand in the stock market. However, there is only a handful that often repeat themselves. Tim Bohen recommends that you read Japanese Candlesticks by Steve Nison to get better acquainted with them. Check out SteadyTrade.com to listen to Tim’s podcast, where they can really help you zero in on your set-ups. Then use StocksToTrade to help spot these patterns!

The first chart to look for is called a ‘clean chart.’ Clean charts are stocks that are breaking out of previous levels. For example, a stock has gone from $1 to $2, back to $1, back to $2, back to $1, back to $2.50, and back to $2. Charts like these draw a lot of attention from stock traders, and if it has a catalyst, it also has a good potential to break out. Another benefit of clean charts is that there is a more defined stop loss.

The next pattern is Tim’s favorite, called the parabolic, the supernova, there are many names for it. This is the kind of stock that has been ‘dead’ or done nothing for a long time. Then some catalyst (news, hot sectors, etc) causes a breakout and the stock skyrockets. Stocks like these are extremely volatile because the volume increases so quickly. These stocks tend to increase over a few days, and traders will benefit from selling at the peak.

Now the charts you should avoid are called the messy chart and the crow (ugly) chart. The messy chart is stuck in a range. Traders often buy into them when they read news that they think will cause it to breakout. Avoid these messy charts that don’t break out.

The last pattern to avoid is called the crow, or the ugly chart. These are long term down-trending charts. These are attractive to traders because they’re so cheap, but often these are stocks from failing companies. These charts rarely bounce, so do your best to avoid them.

#StocksToTrade #StockCharts #StockPatterns
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*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.

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Видео Patterns to Focus On (& Avoid) In the Stock Market канала StocksToTrade