Last week we bought PG- Procter & Gamble, August $110 Puts as price action was showing signs of weakness and failing the 50-SMA. At Friday's close, the sellers still outnumbered the buyers. To learn more about the PG put currently up 23% join us in the HRC Trading Room.
The sellers continue to dominate the with another lower close Friday. Fridays gapped and closed right through the 200-SMA also closing below the Dotted Deuce. The March 8th low $274.45 seems likely as the next possible test for price action on the daily chart. This summer is the summer of the trade war and more importantly, a summer to respect the trend. In our efforts to remain profitable, we find that going back to basics is the best approach. Trade with the trend, when the market trend is down, we find it easier to make money shorting or buying puts. We will hold fast to our trading rules and continue to trade for base hits. Let us all be care full not to overtrade or try to force trades because we think we have to trade something every day.
A Traders Edge In All Markets
The LTA Scanner can filter out charts that are trending, up or down and alert on charts that have Candlestick signals and patterns, western patterns and when indicators, such as MACD, Stochastics, RSI or Bollinger Bands have crossed or reaches the desired level. Hey, check out the NEW BULL PERFECT TREND ALERT. The right tools for the job.
6/1/2019 Acton Plan
- Trade with the current trend of the SP-500
- Expose less money to each trade.
- Fight the urge to predict a bottom
- Grow rich trading base hits
HRC Trades Ideas
✅ We are adding the following to our possible trade list, MRCY, PG, BOLD, CMG, ACAD, SAFM. Trade wisely
We use 2 of The Worlds Best Trading Tools, TC2000 for charting, LTA-Live Trading Alerts for real-time price action, candle and candle patterns, and western patterns. The right tools for the right job.👍
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