Daily Flagpole Weekly Bullish Engulf QNST entry bullish buy box or a tradable breakout, stop below $16.75

November 8, 2018 by Rick Saddler

Daily Flagpole Weekly Bullish Engulf

The daily flagpole and flag are a weekly Bullish Engulf with a high mounted Doiji or what we call a Doji Continuation pattern set up. For about the past eight months QNST has been in a slow upward base construction mode and has finally broken out. I will add QNST to the LTA-Live Trading Alerts Real Time Market Scanner for a buying alert. QNST entry bullish buy box or a tradable breakout, stop below $16.75

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SPY • Closes Over 200-SMA

Yesterday the SPY, on a very decisive day closed above the 200-SMA on greater volume than the past two days. We have a Bullish Inverted Head and Shoulder bottom with price approaching the 50-SMA. When approaching the 50-SMA, it’s pretty normal to see a disturbance between the buyers and sellers. Listen see to what price action is suggesting, become friends with price action, maybe trading will be easier.

****VXX – Yesterday the VXX slid through the 200-SMA and closed weak, watch for a bounce.

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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, 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.

QNST Setup and Trade Plan

November 8, 2018 by Ed Carter

Today’s Featured Trade Idea is QNST.

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.

QNST made a major Bullish move on earnings 10/31 and then followed-through the next day. It has consolidated the following 3 days, bouncing off Support and the Bulls showed they are stepping back in strongly on Wed. If you squint, this J-hook pattern could even be called a Mat Hold signal.

On positive trading, I will look to Enter with a tight Stop. The Targets are defined off the Weekly chart.

Trader Vision shows us that earnings are out of the way and we have nearly 3 months to work with on this trade setup. It also shows us this chart gives us 5 Bullish and only 1 Bearish (overall market long-term bias) condition.

TV20/20 tells us this Trade Plan offers a very low Risk ($115.50) to Stop and a good Reward ($375.75) at the 2nd Target. It also told us we would achieve 2:1 Reward/Risk at the 1st Target and that we can achieve the Trade Goal between Targets #1 and #2.

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 QNST Trade Setup – As of 11-7-18

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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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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Earnings and FOMC

November 8, 2018 by Doug Campbell

Earnings and FOMC

Earnings and FOMC Today is the last really big day of reports this quarter, and with the election behind us, the market is free to react to earnings and the FOMC decision. Asian markets were mixed but mostly higher overnight, and the European markets are currently flat to mostly lower. The US Futures are only pointing to a modest gap down this morning but after such a huge rally don’t be surprised to see some profit-taking.

Although I expect volatility to remain high, we could see the price action become rather light and choppy after the morning rush as we wait for the FOMC decision at 2:00 PM Eastern. Consider the fact that the Dow has gained 2000 points in a straight-up move as you plan your risk heading into the weekend. The odds are that at some point the market will want to test support levels which are now significantly lower.

On the Calendar

On the earnings calendar, we have nearly 500 companies reporting today. The number of earnings drop off tomorrow, and there is significantly fewer next week.

Action Plan

With nearly 500 earnings reports and FOMC decision on interest rates today what could possibly go wrong? LOL Currently the US Futures are pointing to a modest gap down this morning considering the huge post-election rally. After recovering more than 2000 Dow points from the low in just eight days, it should not be a surprise if we see some profit-taking and a little market rest in the very near future. Of course, if a deal can be struck with China anytime soon, that would be a game changer.

Expect considerable volatility today as we wait for the FOMC decision and the market reacts to last really big day of earnings this quarter. I for one took advantage of the big rally taking profits to the bank. This morning I’m very light in my account and to be honest I’m currently feeling pretty comfortable with that decision. The possibility of a pullback or at a minimum is very high, but with the energy and momentum, we saw yesterday If could easily be next week before we see much selling activity. The spin out of Washington could become very intense over the next few days so plan your rick into the weekend carefully.

Trade Wisely,

Doug

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11-6-18 eLearning

November 7, 2018 by Ed Carter

Define Your Risk With Options

In this video, Doug Campbell talks about how a trader can truly define the amount of risk they take by using Options.

1 hour 21 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

Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks or it’s associates should be considered as financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service

Election Results

November 7, 2018 by Doug Campbell

Election Results

Judging by the bullishness of the US Futures the market is pleased with the election results. At the open, the Dow will have recovered more than 1700 points in just 7-days to test its 50-day average as resistance. Truly an amazing accomplishment but raises the questions is it too much to fast and are we overextended in short-term? Only time will tell but be careful chasing the morning gap at the open in case profit-takers capitalize on the bullish windfall.

Expect very fast price action as the market turns its attention to the more than 1000 companies yet to report earnings results this week. Also, keep in mind that the FOMC begins its 2-day meeting today to adding some market stress as we wait for their decision on Thursday afternoon. A big gap like this can generate a lot of emotion and a fear of missing out. As a result, we need to stay focused on price action and disciplined to your rules to win the day.

On the Calendar

On the Earnings Calendar, we have more than 400 companies reporting earnings today. Expect considerable volatility as a result.

Action Plan

Finally, the mid-term elections are behind and although there were some major changes the US Futures indicate that the market is happy with the results. As of this moment, the Dow is pointing to a gap up of more than 150 points, but let’s remember that the more than 400 companies reporting earnings today could easily change that significantly before the open.

With the election out of the way, the market will once again focus on earnings results, trade negotiations and of course the FOMC which begins its 2-day meeting today. The morning gap will propel the DIA high enough to test its 50-day average as resistance. The SPY looks to recover it’s 200-day average this morning with the QQQ looking to open very close to its 200-day while the IWM lags significantly behind them all. As happy as the market appears this morning, please keep in mind that this recovery still has a tremendous amount of work to repair the technical damage in the charts. Expect very fast price action today and the potential of a pop and drop if profit takers capitalize on the big morning gap.

Trade Wisely,

Doug

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Bullish Morning Star Suggest FND bullish in the buy box or a tradable breakout, stop below $31.12

November 7, 2018 by Rick Saddler

Bullish Morning Star Suggest

Yesterday Bullish Morning Star suggest the bulls are interested it pushing price higher. FND was in bad shape until the bullish gap a few days ago. And with positive trading, the days following FND has become an RBB setup with about 37% to the RBB stretch target. I will add FND to the LTA-Live Trading Alerts Real Time Market Scanner for a buying alert. FND bullish in the buy box or a tradable breakout, stop below $31.12

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Rick uses three main trading tools and has dialed them in for max performance. Rick also freely shares his insights on what makes the tools the best and how to use them. Check them out.

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Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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SPY • Bummer The Election is Over…LOL

Ok the results are in, now the market can do what it does best! At yesterdays close the bulls presented us with a Bullish Morning Star (type) pattern and an Inverted Head and Shoulder pattern. Based on the pre-market futures we are going to see bullish follow-through. And remember it’s more about how we draw our conclusions more from the close than anything during the day. Be warned the bulls still need to push through the daily 200-SMA and weekly 50-SMA.

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****VXX – Yesterday the VXX slid through the 200-SMA and closed weak, watch for a bounce.

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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

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This is not your usual service that sends out a ton of stock recommendations, and then cherry picks the winners to show you how great they are. Hit and Run Candlesticks and Right Way Options are truly educational services. They taught me how to trade not what to trade. The entire team: Rick, Doug, Steve, and Ed are there to help and answer your questions. They are awesome. They cut years off my learning curve. And it’s a team effort. Everyone in the room (all the members) are there to help with invaluable insights and advice. The only service you will ever need. Thanks to all the team for how you have helped me and for all you do. –Jonathan Bolnick

Rare to have a service teach you how they find their choices but, HRC/RWO teach you how to fish instead of fishing for you. And, your ideas are not panned but shared, implemented, or improved. Sharing is caring. –Thomas Bradly

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

FND Setup and Trade Plan

November 7, 2018 by Ed Carter

Today’s Featured Trade Idea is FND.

Be Careful: With the Fed Meeting on Wed-Thu and a lot of earnings the next couple days…markets will likely be volatile. Just remember the trend is still Bearish until we have a higher low and higher high.

FND had been in a long-term downtrend. However, it reported earnings on 11/1, experiencing a violent and volatile reversal to break up into an RBB pattern. After consolidating for 2 days to retest the 50sma the next two days, the Bulls stepped in on Tuesday to form what can be seen as a Morning Star (and/or a Bullish Engulfing signal) on Tuesday.

I will look additional confirmation with an Entry above Tuesday’s High and a Stop below Tuesday’s Low and the 50sma. The Targets were chosen based on the Daily and Weekly charts.

Trader Vision shows us the earnings are out of the way, giving us 3 months until they come around again. It also shows us this trade setup has 2 Bullish and 3 Bearish conditions (should be 4 Bullish) as the Bearish pattern is a false read and while not technically a Bullish signal, it is close enough.

TV20/20 shows us that this Trade Plan offers moderate Risk to Stop ($170), but good potential Reward ($563) for a 3.31:1 Reward/Risk overall. However, it also tells us we can achieve the trade goal for this trade even before reaching the 1st Target. And if we do reach that 1st Target, we can get a 2.31:1 Reward/Risk at that point.

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

The FND Trade Setup – As of 11-6-18

The Trade Plan

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

[button_2 color=”light-green” align=”center” href=”https://youtu.be/bLD4Z46DmzQ” new_window=”Y”]Trade Plan Video[/button_2]

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

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All about the Mid-Term

November 6, 2018 by Doug Campbell

All about the Mid-Term

All about the Mid-Term Everywhere I look I see another talking head trying to predict the outcome of the mid-term election. To be honest, that’s far easier to do that than trying to predict how the market will react to the results! What I can say with 100% certainty is that no one knows what that reaction will be and trying to trade it is straight up gambling. As traders, we all gamble from time to time but let’s be honest with ourselves and have our eyes wide open if you choose to do so today.

It’s highly likely the market will gap Wednesday morning substantially. Which means all trades held through the close today are at a higher than normal risk. If you do decide to add risk today, I suggest you keep the positions small to minimize the losses if your guess of the market reaction is incorrect. Also, keep in mind that you don’t have to play the guessing game! There is no shame in standing aside protecting your capital and waiting to trade the reaction when you have a better edge.

On the Calendar

On the Earnings Calendar, we have more than 350 companies reporting today. Keep checking and stay focused on the number of reports grows even more through Thursday.

Action Plan

Asian markets caught a bit of bounce last night but by the close finished mixed. European markets, however, are all slightly bearish this morning and that sentiment seems to have translated directly to the US Futures market. Although futures are currently suggesting a modestly lower open, that could easily change due to all the earnings reports. I would normally expect a considerable amount of volatility but with the market waiting on mid-term election results price action may be choppy and subdued.

While many are trying to predict the election outcome its impossible to know how the market will react. However, react it will, and likely with a big gap up or down on Wednesday morning increasing the risk of every position we hold. Carefully consider that risk if you plan to enter new positions today or carry any positions into the close today. As a result, it’s very unlikely that I will be trading today except for the possible quick intraday trade to take advantage of volatility and stave off the boredom of an election day market.

Trade Wisely,

Doug

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