Bull May Challenge Upper T-Bands Game Changer - Are you ready

November 2, 2018 by Rick Saddler

Bull May Challenge Upper T-Bands

It looks as if the bulls may challenge the upper T-Bands, success and a close above the T-Bands will create a good chart pattern that the Bulls can work with next week. We will likely close our VXX put today for a nice profit going into the weekend. Around $34.25 the VXX could start to bounce, keep in mind the VXX chart is still a bullish cart pattern.

The 80/20 rule has been a valuable rule for me over the years, 80% of stock follow the SPY/SP-500, something to think about.

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Happy Friday!

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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, Right Way Option, Trader Vision 2020 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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Bulls Leaping Higher

November 2, 2018 by Doug Campbell

Bulls Leaping Higher

Apple disappointed investors, but news that the US and China are talking positively about inking a trade deal has the Bulls leaping higher for today’s open. As AAPL slides about south 5%, the US futures are indicated to open nearly 300 points higher. Traders still holding short positions at the open will feel the pain of a short squeeze this morning.

At the open today, the Dow will have recovered about 1400 points in just four days. Heading into the weekend and with the mid-term elections just around the corner be careful not chase. Although a trade deal between the US and China could be a game changer for the market by the end of the year, it does not rule out the possibility of profit taking by the end of the day. With about 1500 companies reporting next week and a lot of technical chart damage repair volatility is likely to remain very high so plan your risk into the weekend carefully.

On the Calendar

We get a little break on the Friday Earnings Calendar with just over 100 companies reporting today. Next week more than 1500 companies are expected to report. Notables for today: AAPL, ABBV, AIV, AMH, ANET, APPN, ATHN, AXL, BABA, BLDR, BPL, BRKR, CBOE, CBS, CC, CCJ, CERS, CHEF, CNK, CORT, CRC, CRUS, CVX, DEI, DOC, DUK, EAF, ED, EEP, ENB, EOG, ES, EXEL, EXTR, FLR, FTNT, GPRO, HR, HRC, HST, IMGN, IPHI, ITT, KHC, LADR, LHO, LNC, LYV, MDRX, MELI, MET, MSGN, MSI, MTZ, NFG, NPTN, NWL, OEC, OLED, PBA, PBYI, PE, PEB, PK, PODD, RLGY, RP, SBUX, SEDG, SEP, SHAK, SHLX, SKT, SM, SRCL, SRG, STAG, STX, SYMC, TDC, TDOC, TDS, TEX, TNDM, TRMB, TRTN, TSRO, UNIT, VG, VIAV, VICI, VST, WIFI, WLTW, WPC, WTW, WU, X, XOM

Action Plan

With the news that the US and China are getting closer to inking a trade, the market is leaping higher this morning. That news came at the perfect time as AAPL disappointed investors and is indicated more than 5% lower at the open. Asian and European markets were decidedly bullish overnight and the Dow Futures currently suggesting a gap up nearly 300 points.

A trade deal with China could be a bullish game changer for the end of this year. There is certainly a lot of technical damage in the charts to recover from, but it is possible a true V-bottom pattern could occur. Remember we still have the mid-term elections next week and volatility is likely to remain very high with about 1500 companies scheduled to report earnings next week. The Dow will have recovered about 1400 points in 4 days at the open, don’t be surprised if we see some profit taking ahead of the weekend.

Trade Wisely,

Doug

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FEYE 2-Day Bullish Engulf FEYS bullish above $19.05 Stop below $18.20

November 1, 2018 by Rick Saddler

FEYE 2-Day Bullish Engulf

FEYE has printed a 2-day Bullish Engulf after a bullish pullback. Mid August FEYE started its turn from bearish to bullish, and the current Bullish Engulf on the 2-day chart or gap on the daily chart is the clue I need to add FEYE to our watchlist. Also take a look at the weekly chart, if that doesn’t excite you. I don’t know what will. Current trade: FEYE bullish above $19.05 Stop below $18.20 targets $21.00 $23.60. Our trade ideas are found using TC2000 Software

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Understanding Candlesticks Q-Why don’t Candlestick signals work every time?

A-Reversal patterns are more clues of what could come, rather than what is.

Q-What is follow through?

A-Follow through is when price action moves higher than the clue candle.

Q-What is positive trading?

A-Positive trading is when price action works within the clue candle range

Candlesticks within a tight chart pattern are building a candle in a longer time frame

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SPY • Price In The Band

The recent price action of the last few days was a clue that the buyers are starting to circle, yesterday’s gap held fairly well into the closed above our lower T-Line Band. The futures are pointing a little higher this morning. In a perfect world, I would like to see the SPY closed up above our upper T-line Band Which is about $275 .70, of course by then we’re going to need a little profit taking and that could set us up for our low high/higher low and higher high chart pattern. Once above upper T-Line Band, the $280.00 price target is possible.

Bottom line is if the bulls can keep this up we could soon see the T-Line Bands turn positive, if not a test of the recent low.

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****VXX – The VXX chart is still a bullish chart pattern and can raise it’s head anytime. We did buy a few PUTS on it yesterday for a quick trade.

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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.

Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is not a licensed financial adviser nor do they offer trade recommendations or advice to anyone.

FEYE Setup and Trade Plan

November 1, 2018 by Ed Carter

Today’s Featured Trade Idea is FEYE.

Be Careful: Markets gapped higher Wednesday and had a decent run, but all of them closed leaving high wicks. The DIA failed a test of its 200sma and even on a +1-2% day, it did not seem like the Bulls were in control. Just remember the trend is still Bearish until we have a higher low and higher high.

Members can join us in Trading Room #1 as Rick reviews this setup and other Trade-Ideas at 9:10am Eastern. For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

FEYE is coming off a nice gap-up day (on earnings) and continues to put in higher- highs and higher lows recently. However, it did pull back from resistance Wed.

I will wait on it to prove $19 is no longer resistance with a Stop protected by the $19 and $18.25 S/R levels. Targets were defined of the Weekly chart.

Just be cautious as this still has resistance above and the overall market is still in a Bearish trend (despite nice gap-ups yesterday).

TV20/20 tells us we have 3mo. until the next earnings report. It also shows that we have 3 Bullish and 3 Bearish conditions (2 of the bearish being overall market trends long and short-term).

Trader Vision also shows us that this plan (waiting 3.5% for FEYE to prove it can break out) gives us a good Reward/Risk of 2.29/1 at the 1st Target. However, if we can sell half there (to lock in profits) and hold the remainder until the 2nd Target we can achieve 3.82/1 ($487.5 / $127.50) overall.

FEYE must reach just above Target #1 ($21.38) in order to achieve the Trade Goal for this account.

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 Trade Setup – As of 10-31-18

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, the 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.

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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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Volatility Continues

November 1, 2018 by Doug Campbell

Volatility Continues

Markets are once again gaping higher this morning as this wild ride of volatility continues. With nearly 450 companies reporting earnings today and a busy economic calendar, anything is possible. Price resistance did its job yesterday rejecting the days high. This mornings gap brings the price right back up to those same price resistance levels. I intend to very cautious this morning and will watch price action closely to see if this gap is actually going to be supported by buyers.

Keep in mind AAPL reports this afternoon and we have the Employment Situation report before the open on Friday even more volatility risk for those holding positions into today’s close. Remember mid-term elections are next week, and the trade issues with China continue. Think about that as you plan your risk heading into the weekend.

On the Calendar

We have a huge day on the Earnings Calendar with nearly 45 companies reporting. Some of the notable earnings for today are: AGIO, AIG, ALL, AMAG, AMCX, AME, AMGP, AMRN, APA, AR, ARES, AROC, ATH, AWK, BCE, BID, BLL, BMCH, BSIG, CBRE, CF, CHD, CI, CJ, CLI, CMP, CNO, CNQ, CNSL, D, DM, DNOW, DWDP, EPZM, ESRT, ESRX, FISV, FND, FRAC, GEL, GLOG, GLPI, GNRC, GOV, HBI, HCC, HGV, HPP, IDXX, IIVI, INAP, INGR, IT, JHG, KRG, KW, LITE, MAA, MAC, MD, MDU, MGP, MMP, MOH, MPC, MPLX, MPW, MRC, MSCI, MT, MTDR, NBL, NE, NFX, NI, NNN, NTCT, NXPI, NYT, O, OMF, OSK, PAH, PBH, PBI, PENN, PGTI, PH, PKI, PPC, PPL, PWR, QRVO, RDS.A, RDUS, RGLD, RPT, RYN, SEE, SFM, SHPG, SNDR, SPOT, SSNC, STAY, STOR, SU, TEVA, THS, TPX, TRP, TS, TVPT, UFS, USCR, VECO, W, WCC, WMB, WPX, WTI, WYND, XPO, ZTS.

Action Plan

Asian markets closed mixed overnight, but European markets are currently bullish across the board. While I love the bullish enthusiasm in the US Futures this morning, I’m want to extra cautious about the possibility of a pop and drop today. AAPL reports this afternoon, and we have the Employment Situation number coming in Friday morning before the open. If that’s not enough to give you a little pause, then answer this question. What’s changed? The trade war tensions are still there; the mid-term elections are still on the horizon, and earnings reports have been far from stellar.

Please understand I want the market to go up, but I will only believe it when I actual buyers are supporting the gap after the open. Until then I will remain cautious remembering that volatility is still very high and with more than 400 earnings reports that anything is possible. Keep a close eye on resistance levels as we move up to test.

Trade Wisely,

Doug

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10-30-18 eLearning

October 31, 2018 by Ed Carter

Working with Candlesticks

In this video, Rick Saddler talks about candlestick signals and how those often translate into patterns in other timeframes. He also explains the 4 Questions a Trader should about the Candlestick signals they see.

Why don’t candlestick signals work every time?
What is follow through?
What is positive trading?
How do patterns in one timeframe relate to signals in another timeframe?

(1 hour 26 minutes)

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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, Fibonacci, Stoch/RSI

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AGX 2Day Setup and Plan Beware this market!

October 31, 2018 by Ed Carter

Today’s Featured Trade Idea is AGX (This is planned/analyzed off a 2Day chart…not normal practice for me.)

Be extremely cautious trading this market! We are seeing 4-6% daily ranges in the indices and while the bears are in control of the trend, we may be seeing exhaustion selling (leading to a potential bounce).

WARNING: This is analyzed and planned off a 2-day chart as an exercise with my partner Rick Saddler. Not a normal practice.

AGX is both an RBB and J-hook b/o pattern. I will look for an Entry about where it closed Tuesday and a Stop below Support. The Targets are defined off 2day chart as well.

If executed as planned, it would yield a 3.65/1 Reward/Risk.

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

The AGX Trade Setup (2-day chart) – As of 10-30-18

The Trade Plan

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

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2 and 3 Day Rounded Bottom Breakout Trade Alert – Adding To Watch-list

October 31, 2018 by Rick Saddler

2 and 3 Day Rounded Bottom Breakout

AGX is a 2 and 3 Day Rounded Bottom Breakout with a trend made up of Higher/Highs and Lower/Lows. I can also see a Bullish price action rounded bottom forming. On June 27 and September 7 the buyers showed there hand and price had been bullish ever since. AGX bullish above $45.35 Stop below $44.05 targets $50.50 $54.35

Free Membership – Drawing and Registration

Last nights drawing for the free membership to Hit and Run Candlesticks was exciting and went great. We gave away 3 HRC Memberships, 3-Monthly and 2-Quarterly.

We will be giving more memberships away in November, here’s how to register for a free membership: (everyone is eligible, but you must register by going to My YouTub channel, write a comment in the comment area of any one of the last three videos and give a thumbs up if you liked the video. Thank you

Today’s Featured YouTube Video is Bullish Harami: Please don’t forget to subscribe to my FREE YouTube Channel

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Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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SPY • Bullish Piercing Candle

Yesterday the SPY closed with a Bullish Piercing Candle, reading a Piercing Candle:

Definable downtrend in progress.
The first candlestick is a black or bearish candlestick.
The second candlestick is white or bullish. This candlestick opens below the previous day’s black candlestick and closes above the midpoint of the previous day’s white candlestick.

The bulls are not out of the woods just because they printed a Piercing Candle; it will be important that the bulls show strength and follow through along with a constructed bottom. All of this may take days or even weeks to accomplish. Remember the trend is still negative.

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****VXX – Still shows more fear than not. FYI-Just because you have a trading account and you hear and see everyone talking about trades does not mean you should be trading.

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Trading at the Beach • How to set up the T-Line Regression Lines • MetaStock Automated • Trading the T-Line Trap • Shorting the Blue Ice Pattern

Testimonial

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.

Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is not a licensed financial adviser nor do they offer trade recommendations or advice to anyone.