Price T-Line Trapped POOTB Pattern
GLUU is trapped between the T-Line and a recent high with a (POOTB) Pop Out of The Box pattern. With a great bullish trend, GLUU has had a 13-day T-Line Run with a recent lift and now a PBO to the T-Line with a (POOTB) Pop Out of The Box pattern. A breakout of $7.75 would indicate the buyers are supportive of a higher price. See Trader Vision Blog, a protective stop of about $7.35 helps to control risk. To learn more about this trade and other consider our Hit and Run Candlesticks Service.
Past performance is not indicative of future returns
Good Trading, Rick, and Trading Team
What’s on Rick’s watchlist today? A 246% plus increase in 7 months can’t be all wrong.
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SPY • Rest and Test Soon?
The overall market is under pressure this morning and the possibilities of testing yesterday lows or making new lows are probable. The overall trend is still bullish but not necessarily a good day for new buys. Protecting and profiting from what I am currently managing will be the plan of today. I will update members if there is a change in my plan. The SPY held above the T-Line yesterday but this may not hold today if the bulls lose the Lower T-Line Band the 20-SMA is likely to be tested.
T-Line • Traders Best Friend
13-days with a T-Line Run (nice job bulls) today will be a big test is we make 14 or do we start a sellers T-Line Run?
****VXX – The VXX is still trying to construct a bottom and getting closer to the downtrend line. Will the downtrend line reject price again or open the gate?
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Past performance is not indicative of future returns
Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020, Top Gun Futures or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.
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