Today’s Featured Trade Idea is ASNA.

Members can hear 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.

ASNA has been in a bullish trend since late March and over the last month made another strong push higher. In the last week it has taken profits on in a shallow pullback/consolidation that is marked by the number of Doji (indecision) about the selling.

On Tuesday it printed a Trader’s Best Friend signal and is right at the recent highs. I will be looking for a b/o Entry using a line across the Doji bodies as support to protect a Stop. My Targets will be up where Weekly S/R levels match well to Fib. Ext.

Trader Vision shows us this ticker has 6 Bullish conditions and no Bearish conditions. A check of NASDAQ tells us earnings should not be until 9/24. So this Chart should have time to work and is a very favorable setup.

TV20/20 does the math for us, which allowed us quickly review and analyze multiple scenarios. In this case we added a 3rd Target to the trade. However, we have the comfort of knowing that if we only reach the 1st Target, we can sell the entire position there and still easily make our Trade Goal.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

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.

The ASNA Trade Setup – As of 8-21-18

The Trade Plan

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It 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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