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.)

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.

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.

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

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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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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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

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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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Testimonial

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

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.

Possible Follow-through?

October 31, 2018 by Doug Campbell

Possible Follow-through?

Possible Follow-through? Bullishness in the Asian and European market has the US Futures suggesting the first possible follow-through rally in nearly a month! Certainly exciting to see but as the indexes challenge price resistance levels, we can’t rule out the possibility of profit-taking. As a result, traders will need to say on their toes focused on price action and aware of the current market volatility.

As earnings continue to roll out this morning, keep in mind that anything is possible. We have recently experienced the pain caused by chasing into a gap up open that ultimately sells off the rest of day. Please understand I’m not hoping for or suggesting that will occur. I’m merely pointing out the possibility and that traders need to remain thoughtful of the risk and prepared for anything this volatile market tosses our way. Have a plan and trade with a stop!

On the Calendar

On the Earnings Calendar, we have over 250 companies reporting earnings today. Among the most notable today: ACGL, ACOR, ADP, AEE, AMGN, ANTM, APC, APO, APTV, BAX, BG, BGS, BHE, BIDU, BJRI, BXP, CAKE, CDW, CG, CHRW, CIM, CLVS, CLX, CONE, CRTO, CVE, CXO, DDD, EA, EBAY, EIX, EL, EPD, ESIO, ETR, EXAS, EXC, EXR, FB, FEYE, FLT, GM, GRMN, H, HCLP, HCP, HES, HFC, HLF, ICE, ICPT, IGT, INN, IQ, K, MDR, MGM, MXIM, MXL, NBR, NCR, NTRI, NUVA, OI, OKE, OMI, ORBC, PAYC, PBF, PDM, PSA, QNST, RDC, RDN, RPAI, RRR, RXN, SC, SEND, SF, SFLY, SITE, SNY, SPR, SPWR, SSW, TAP, TEL, TMHC, TMUS, TTMI, VOYA, VRSK, WEC, WES, WLL, WNC, YUM, YUMC, ZEN

Action Plan

Could we actually get two bullish days in the row? Big gains in Asian markets overnight with European decidedly bullish this morning has US Futures currently suggesting a gap higher of more than 100 points. Unfortunately, with such a big gap, we have to be on guard for the possibility of a pop and drop as the indexes challenge the downtrend and price resistance levels. Consequently, be careful chasing into the morning gap until we see real buying supporting the new level.

Of course with more than 250 companies reporting earnings a lot could change by the open. Continue to plan for high volatility, fast price action, and whipsaws. As the indexes and individual stocks test, upper resistance levels remember to take some profits to the bank.

Trade Wisely,

Doug

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Trade Alert

October 30, 2018 by Doug Campbell

Good Morning team.

The market is finally trying get a bounce and the move seems pretty broad based this morning. Be careful with your short positions! Also keep in mind that volatility is likely to produce some big swings.

With that in mind there are stocks showing good signs. INTC is past its earnings and has successfully broken its downtrend. The bid/ask spread are wider than normal but take a look at the JAN contracts between 70 and 80 deltas.

I have mentioned TUP before but it has now tested the downtrend trend break and is showing signs of buyers stepping in at support. Options on this stock are not good so its if your interested its better to just trade the stock.

MCD moved big on earnings this quarter and has now pulled back and buyers are coming in at price support. A DEC 170/165 Put Credit spread or just a straight directional might be in order. Personally I favor the JAN contracts.

Watch carefully for an intraday pullback. IF, it holds a higher low there may be an opportunity to buy some IWM calls for a quick rally.

KO reported well today and is now breaking resistance. The JAN 45 Calls look very tasty right now.

Once again this is very early and trading this much volatility is not for the faint of heart. Consider that before taking on any new risk.

Remember all trade ideas are for your evaluation and consideration.

DWT Setup and Trade Plan Be Careful - Volatile Markets now

October 30, 2018 by Ed Carter

Today’s Featured Trade Idea is DWT.

DWT is a 3x Inverse ETN of Crude Oil. Being a Leveraged ETN it carries more risk to both re-balancing and leverage). However, it is showing a Rounded Bottom Breakout that has now consolidated for almost a week. It will also break its longer-term downtrend as of Entry for this trade idea.

Trader Vision shows us there are no earnings to worry about. In addition, since this is an inverse ETN the market conditions section incorrectly reads the Market bias long and short-term. (A bearish market should help this ETN.)

TV20/20 tells us this trade plan would get us a 2:1 Reward/Risk at the 1st Target. However, we need to get above the 1st Target to achieve the trade goal set for this account. If we can sell half at Target #1 and the rest at Target #2, we can reach our trade goal and achieve a 2.71:1 Reward/Risk ($380/$140).

On trading above Monday’s high, I will look for an Entry with a Stop protected by 2 potential Support levels and Targets defined by S/R levels above.

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

The DWT Trade Setup – As of 10-29-18

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/mkXLmnsBTIU” new_window=”Y”]Trade Plan Video[/button_2]

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

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Testimonial

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Silver Lining

October 30, 2018 by Doug Campbell

Silver Lining

Without a doubt, yesterday was an ugly ride, but it also revealed a possible silver lining. Where was the silver lining? In the last 15 minutes of the day, we experienced a huge bounce that can only occur when the big institutions finally step in to snap up the bargains and defend the lows. We still need proof of that with a follow-through rally today. Make no mistake, if this is a short-term bottom the price action will still be very challenging to trade.

Asian and European had mixed results during the night, but the US Futures are currently pointing to higher open that has the potential of recovering some key support levels. Fast price action, whipsaws and the possibility of overnight reversals will continue to make the waters very difficult to navigate. With nearly 1000 companies yet to report this week anything is possible so prepare for the bumpy ride to continue!

On the Calendar

Tuesday begins with the CoreLogic Case-Shiller report at 10:00 AM and expecting at 0.1 percent monthly gain and the Year-on-Year rate at 6.0 percent. Then the Consumer Confidence report is at 10:00 AM where consensus expects the October reading to decline slightly to 136.3. After that we have two Bond Auctions at 11:30 AM, then the Farm Prices report at 3:00 PM.

On the Earnings Calendar, more than 280 companies are expected to report today. Here are some the most notable: ACCO, AER, AET, AGCO, AGN, AKAM, ALSN, AMKR, AMT, AN, AOS, APTI, ARE, ARNC, ARRY, AVB, AWI, AXGN, BHGE, BKI, BLKB, BP, BRX, BTU, CGNX, CHGG, CLR, CMI, CNX, CTSH, EAT, ECL, EGHT, EHC, EPR, ERJ, ESV, ETN, EXP, FCAU, FET, FIS, FLIR, FTSI, GE, GPN, GWR, HCA, HMC, HUN, I, IDTI, INCY, INST, IPGP, KBR, KEM, KLAC, KO, LL, LYB, MA, MAS, MDLZ, MSM, NEO, OLN, PEG, PFE, QGEN, QTS, RIG, RMBS, SABR, SCI, SHOO, SNE, ST, TCO, TKR, TPR, TREX, TXRH, UAA, UDR, VMC, VNO, VNOM, VNTR, VSH, WAB, WCG, WCN, WDR, WELL, WH, WING, WLH, XYL

Acton Plan

I mentioned yesterday that I would not be surprised to see another leg lower but yesterdays price action was downright nasty! However, the big swoon that was rallied strongly in the last 15 minutes of the day may be exactly the thing we needed. The only way to have such a massive bounce at the end of the day is with institutions stepping up in a big way to defend the lows. If and that is big IF, we can get a follow-through today, we may have finally put in a short-term bottom.

Expect very high volatility to continue with fast price action. Traders should expect to be challenged by large morning gaps, intraday whipsaw and the possibility of overnight reversals. How companies report will be critical. Stay buckled up because the wild ride is far from over.

Trade Wisely,

Doug

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Membership Giveaway Night Tonight dwt Bullish above $6.85 Stop below $6.50

October 30, 2018 by Rick Saddler

Membership Giveaway Night Tonight

Membership giveaway night! During the Tuesday night eLearning (TONIGHT) October 30, I will be giving away a couple of free memberships to Hit and Run Candlesticks (everyone is eligible, but you must register by going to My YouTub channel, give a thumbs up and write a comment or ask a question in the comment area of any one of the last three videos. No need to be present to win

Today’s Featured YouTube Video is Japanese Candlestick Trading Strategy: Please don’t forget to subscribe to my FREE YouTube Channel

Trade Alert – Adding To Watchlist

DWT is presenting us with an RBB- Rounded Bottom Breakout setup. DWT is a 3x Inverse Crude ETF that has been down-trending for over a year. The current chart pattern looks set for a challenge of the 200-SMA which is 26% away. Currently a POOTB setup and above the V-Stop. DWT bullish above $6.85 Stop below $6.50 targets $7.55 $8.05 $8.75

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Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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SPY • 38.2% Fib Pullback

Did you know the SPY has pulled back to it’s 38.2% Fib line? Starting at the breakout and test line at $208.70 11/4/16 and ending $292.95. 2018 is turning out to be a slop and chop year but but over all has been good for traders. 2016 and 2017 was easy to make money, 2018 is simply requiring our rules and education be applied.

As far as yesterday’s price action goes, the trend is still in favor of the sellers. SPY below $273.30 is bad for the bulls and filled with slip and chop.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

****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.

YouTube Videos

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

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

Oversold?

October 29, 2018 by Doug Campbell

Oversold?

I see a lot of conversation in the press, and across social media using the term oversold. While that might be true, oversold does not automatically translate into bullishness or a reason to rush into risk! Take a close look at the daily charts, and you will see there is currently nothing in the price action that should engender confidence that the bulls are ready to take control. Remember the fear of missing out is an emotion and not a valid reason to buy!

If you do in fact, set aside bias and speculation it’s not hard to see that the price action could easily point to another leg lower. My point is to avoid gambling on the rumor mill and wait for proof in the price action that the bulls are supporting price before risking your hard earned capital. Also, keep in mind that with the VIX still showing considerable fear and nearly 1200 earnings reports this week volatility will likely produce overnight reversals and nasty intraday whipsaws. Plan your risk carefully!

On the Calendar

The Economic Calendar is off to a quick start this week with the potential market-moving Personal Income and Outlays report at 8:30 AM Eastern. According to consensus estimates, personal income and consumer spending increased 0.4% in September. The core PCE which excludes food and energy expects a subdued 0.1 percent monthly increase with a year-on-year gain of 1.9 percent. After that, we have a Fed Speaker @ 9:45 AM, the Dallas Fed Mfg. Survey @ 10:30, and 4-Bond Events between 11:00 and 11:30 AM to close the calendar day.

We have a very busy week on the Earnings Calendar with this Monday off to a fast start with 140 companies reporting. Some of the more notable are for today are AMG, BAH, BLMN, CDAY, CTB, DAN, FDC, OIS, PCH, RAMP, SIR, TSEM, YNDX

Action Plan

Expect volatility to remain high this week with nearly 1200 companies reporting earnings. Fear is also a factor the market will have to continue to deal with VIX holding above 24 by the Friday Close. Internally the market appears to be in an extreme oversold condition, but with such high volatility, traders will likely find the price action very challenging. Overnight market reversals, intraday whipsaws and very fast price action to common in this market condition so plan your risk very carefully.

Technically the major indexes managed to hold important support levels on Friday, but the but the overall price action was not exactly confidence building. Although I’m hoping for a relief rally from this oversold condition, I’m not ruling out the possibility of another leg down in earning continue to disappoint. An oversold condition does not an indication of bullishness and to assume such is gambling on wild speculation. Wait for a price action proof that the bulls are supporting price if you decide to trade and have a willingness to hold through nasty price whips.

Trade Wisely,

Doug

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