Fish Hook Pattern Trading

You see with the fish hook pattern i m looking for beaten down names poised to reverse.

Fish hook pattern trading.

2 the stock finds an area where it has a hard time breaking below. At the end of august share prices fell in steep decline and i purchased shares after the rsi started to recover above 30. The ross hook pattern forms after the formation of 1 2 3 trading pattern. 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.

To identify this tremendously trustworthy signal look for the following criteria. Now let s look at the power of the fish hook. On the other hand with the rocket pattern i m looking to play for the breakout. 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.

Since the bullish hook reversal pattern only includes two candles it is easy to spot and analyze. 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. 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.

A lot of traders in jason bond picks and millionaire roadmap have been asking me about my fish hook pattern. Fish hook pattern explained. What to look for with the fish hook pattern. The pattern is identified when a.

Second the pattern should be composed. In other words i m looking for strong stocks here. 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.

Some trading rules for ross hook pattern. Bullish hook reversal pattern. 3 the stock holds at the support level and catches a bid. I am not sure i can definitively provide all of the rules to the standard of testibility but here goes.

With the fish hook pattern there are a few things we re looking for 1 a steep drop in price. The ross hook pattern is a breakout forex trading strategy. This is an excellent question you pose.