Normally we don’t do a featured trade on Friday’s. However, with no trade on Tuesday (half day) and Wednesday (holiday), I decided to put out a trade idea today.  Today’s Featured Trade Idea is SONC.

You can see Rick’s detailed review in the trading room at 9:10am Eastern.  For now, here is my analysis and a potential trade plan made using our Trader Vision 20/20 software.

SONC has no exposure to International Trade and as a fast food restaurant, less exposure to economic or political news. So, relatively speaking it has lower weekend headline risk. I will be looking for Entry about 15 cents above b/o of the J-hook pattern, using Fib Targets since we are near all-time highs.  Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

Don’t forget, Friday are “Open House” Days in the Trading Room. 

Please be our guest and join us in Trading Room # 1 (No password required)

The  SONC Trade Setup – As of 7-5-18

The  Trade Plan

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the overall risk of the position size, risk to Stop out and Reward possible at each Target can help a great deal with controlling our emotions.  Knowing the Risk is low and the potential Reward good.  Knowing the Risk, Reward and how far a stock must move to reach our goal…before a trade…really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

Put the power to Trader Vision 20/20 to work for you…

Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

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Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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