Lincoln Alerts 5.31.12 – The Wick Don’t Lie
Trades $DGIT +300 $VVUS+10 $JIVE +300 $DGIT +165 $NEON -240 $WHR +240 $VHC -125.
Take a look at these 3 charts from Wednesday. This is hands down the highest reward strategy with a ridiculous level of accuracy. This pattern has made me a fortune over the last few years and I’m still amazed every time I see it. I’m sure there is a name for it but I call it the “candle ripper” and pretty much the give away on when to pull the trigger is the “wick”. I even did a full length instructional video on how to trade this pattern and you can watch it here
Look at these charts
OPEN
WHR
You don’t have to be super brilliant to see how these patterns end up. Each time you see those larger wicks on the top of the candles the stock almost always pulls back even if only for a short time.