T-Line PBO Bullish Engulf
EVH ended yesterday with a Bullish Engulf on the T-Line and is in our Rounded Bottom Breakout Pattern. After the bullish engulf price had bullish follow through. After running into sellers about $16.50 price pulled back creating a PBO set up. If we decide to trade EVH, we will use our RBB rules. With the help of Fibonacci Lines, I will be setting up my plan for about a 20% trade.
We will discuss the trade details with our trade plan in our Members Morning Prep starting at 9:10 EST this morning. members morning briefing
►Recently Closed Trades
WTW 21.9% • VIPS 118% • VXX 375% • TWTR 180% • QQQ 179% • QQQ 28% • TWTR 54% • OCN 39% • FEYE 28% • TWTR 50%
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►SPY Up-Date
Today will be the 6th day of a Bullish T-Line Run as the SPY shows it’s strength after a pattern breakout. Yesterday’s close is what we call a Doji continuation pattern which should lead us to $281.55. When looking at your SPY chart take a look at the weekly, you can see how price has formed a bullish engulf and how the 34-EMA has started to tend again. A close below $277.90 would likely lead to a test of the 50-SMA.
Candlesticks • Price Action • T-Line • T-Line Bands • Support • Resistance • Trend • Trendlines • Chart Patterns • Buy Box • Volatility Stops • Profit Zones • Entry Zones • Protective Stops • RBB Rounded Bottom Breakout Strategy • Pop Out of The Box Strategy • Pinball Strategy • Trade Planning
►The VXX short-term futures
VXX took a nose dive and looks to be headed to the 50-SMA for now (no change form yesterdays comment)
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Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.
Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.
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