Fish Hook Pattern Trading

Some trading rules for ross hook pattern.

Fish hook pattern trading.

Bullish hook reversal pattern. This is an excellent question you pose. The pattern is identified when a. 3 the stock holds at the support level and catches a bid.

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. 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. With the fish hook pattern there are a few things we re looking for 1 a steep drop in price.

Check mark s premium course. The rocket pattern is a little different than the fish hook pattern. 2 the stock finds an area where it has a hard time breaking below. The ross hook pattern is a breakout forex trading strategy.

Now let s look at the power of the fish hook. You see with the fish hook pattern i m looking for beaten down names poised to reverse. I am not sure i can definitively provide all of the rules to the standard of testibility but here goes. On the other hand with the rocket pattern i m looking to play for the breakout.

The ross hook pattern forms after the formation of 1 2 3 trading pattern. 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. 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. Keep reading to find out my thoughts on when the best time to take this setup and when to avoid it. A lot of traders in jason bond picks and millionaire roadmap have been asking me about my fish hook 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. First a downtrend must be in progress. In the process of waiting for the ross hook pattern to form you can actually trade the 1 2 3 pattern breakout as well.