Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
CNX/Short| “M” pattern | 5-day Evening Star

SPY:  T-Line™ Chart: 2 and 4-hour chart breakdown

Good Morning, Profit Traders,

Prayers to Orlando victims and families.  Our thoughts are with you; you are not alone.

In last Friday morning’s trading note, I wrote that unless the buyers participate, we would see $210.25.  Premarket numbers, the SPY is at $210.27 as I write today’s trading note.  I also noted in Friday’s trading note that without buyer participation, $209.15 and $208.50 were likely lines to be tested.

It’s worth noting that on the five- and six-day chart, the SPY has produced a Shooting Star candle which means the battle between the Bulls and the Bears this week could be a very important turning point.  Friday’s gap down below the T-Line on the daily chart and a close below the open suggest the sellers are leading the short-term battle.  Friday’s win for the sellers has put a new number on a possible target of $207.00.  If the sellers can take us down to $207.00, the daily chart will begin to look like a Bearish “M” pattern.

Traders’ words of wisdom – For the next few days, lower position sizes, cut the number of trades in half, tighten up on your risk level.  Before you pull the trigger, take a five-minute walk, paint your house rather than trade.  Here is a ticker symbol that I will be following very closely this week, CIAP; the company name is Cash Is a Position.

All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.

IWM:  T-Line™ 2-hour chart |breakdown
SMH:  T-Line™ 2-hour chart |breakdown
IYT:  T-Line™ 2-hour chart |breakdown
VIX: T-Line™ chart |Continuation pattern in progress
USO:  T-Line™ 2-hour chart |breakdown
UUP:  T-Line™ 1-hour chart |Turned bullish
Each day a trade idea list is posted in the members area that I believe are poised to move 10-20% (or more) within the next few days.  Please follow your trading rules for entry stops and profits. Remember to check for earnings!
Members only
Keep your eye on the inverse ETF’s They trade well!

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

VXX S&P 500 VIX Short Term Futures:  A close above the T-Line ™ implies the bullish short-term swing traders are in control.  A close below the T-Line ™ implies the bearish short-term swing traders are in control. 
Energy Sector: XLE, SX90, ERX, USO  A close above the T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 
SMH: A close above the  T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 
IYT: A close above the  T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 
US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.  Learn more about the T-Line – Click Here
The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.
Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.
http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.