SPY- Will the Bulls attack $236.70

Today’s Swing Trade Ideas – Double click trade plan to enlarge

In today’s trade ideas we have 11 swing trade ideas for the members, and we are featuring one free trade idea –

From a bull’s eye SPY:

Take a look at the weekly chart of the SPY, and you can see a Bullish Piercing Pattern formed last week.  Looking back 5 to 6 candles you can clearly understand why $236.70 is acting as resistance.

Back to the daily chart – the last five bars have been bullish and has formed a bullish chart pattern; the Bulls simply need the energy for follow-through.  Without it, the Bears can easily take over.

Spot Light Chart

JAZZ was an HRC members swing idea on January 3; it is currently up 33.11% at Friday’s close.

The trade idea started because of our signature Rounded Bottom Breakout chart pattern that led all the way to the 200-period moving average.  Pulled back for another opportunity with a Doji Bullish Engulf and then followed through with a T-Line run.  Consolidated for a couple of weeks and then back above the T-Line.  It’s above support again with a little flag pullback.

Bullish Piercing Pattern

Trying to identify the Bullish Piercing pattern? Look for this essential criteria:

First, there must be a clear and definable downtrend in progress for the pattern to qualify as a Bullish Piercing pattern. Second, the first candlestick (which appears at the end of the downtrend) must be a black (or red), bearish candlestick. Third, the second candlestick must be white (or green) and bullish. Fourth and finally, the second candlestick (the white one) must open below the black candlestick and close above the black candlestick’s midpoint. So if you mark a dotted line through the vertical center of the black candlestick, does the white candle close above it? If so, it can qualify as a Bullish Piercing pattern. Read More.

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks or it’s associates should be considered as financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service

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© 2007 – 2017 Hit & Run Candlesticks – Right Way Options – Strategic Swing Trade Service – Trader Vision – All Rights Reserved. Terms of Service Investing and Trading involves significant financial risk and is not suitable for everyone. No communication from Rick Saddler, Doug Campbell or this website should be considered as financial or trading advice. All information is intended for Educational Purposes Only.