Fish Hook Pattern Trading

A lot of traders in jason bond picks and millionaire roadmap have been asking me about my fish hook pattern.

Fish hook pattern trading.

On the other hand with the rocket pattern i m looking to play for the breakout. In the process of waiting for the ross hook pattern to form you can actually trade the 1 2 3 pattern breakout as well. Keep reading to find out my thoughts on when the best time to take this setup and when to avoid it. Check mark s premium course.

I am not sure i can definitively provide all of the rules to the standard of testibility but here goes. 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. 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. 3 the stock holds at the support level and catches a bid.

The pattern is identified when a. With the fish hook pattern there are a few things we re looking for 1 a steep drop in price. 2 the stock finds an area where it has a hard time breaking below. The rocket pattern is a little different than the fish hook pattern.

You can see the fish hook pattern on the right of the chart. First a downtrend must be in progress. That said the fish hook is one of my favorite trading patterns but i don t always trade it. Second the pattern should be composed.

The ross hook pattern is a breakout forex trading strategy. To identify this tremendously trustworthy signal look for the following criteria. The ross hook pattern forms after the formation of 1 2 3 trading pattern. 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.

What to look for with the fish hook pattern. In other words i m looking for strong stocks here. Bullish hook reversal pattern. Some trading rules for ross hook pattern.

Now let s look at the power of the fish hook. At the end of august share prices fell in steep decline and i purchased shares after the rsi started to recover above 30. Since the bullish hook reversal pattern only includes two candles it is easy to spot and analyze.