Fish Hook Pattern Trading

In the process of waiting for the ross hook pattern to form you can actually trade the 1 2 3 pattern breakout as well.

Fish hook pattern trading. To identify this tremendously trustworthy signal look for the following criteria. You can see the fish hook pattern on the right of the chart. You can see that in real life the fish hook trading pattern does take the rough shape of a fish hook but it can be a little messier looking. The pattern is identified when a.

On the other hand with the rocket pattern i m looking to play for the breakout. Some trading rules for ross hook pattern. This is an excellent question you pose. That said the fish hook is one of my favorite trading patterns but i don t always trade it.

At the end of august share prices fell in steep decline and i purchased shares after the rsi started to recover above 30. 2 the stock finds an area where it has a hard time breaking below. Bullish hook reversal pattern. What to look for with the fish hook pattern.

First a downtrend must be in progress. Check mark s premium course. A short term candlestick pattern occurring in either an uptrend or a downtrend that is used to predict a reversal in the trend s direction. Second the pattern should be composed.

Now let s look at the power of the fish hook. Fish hook pattern explained. The ross hook pattern forms after the formation of 1 2 3 trading pattern. You see with the fish hook pattern i m looking for beaten down names poised to reverse.

3 the stock holds at the support level and catches a bid. A lot of traders in jason bond picks and millionaire roadmap have been asking me about my fish hook pattern. I am not sure i can definitively provide all of the rules to the standard of testibility but here goes. Since the bullish hook reversal pattern only includes two candles it is easy to spot and analyze.

The rocket pattern is a little different than the fish hook pattern. In other words i m looking for strong stocks here. If you followed hit and run candlesticks into onty you are up 21 urz up 13 and sold cdti for 20 two days ago the price action of yesterday showed a bit.