RBB Breakout Above $36.50

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RBB Breakout Above $36.50

ERY is on our watchlist, and we are looking for an RBB breakout above $36.50. The 2-Day chart shows impressive price action the past three days above the 50-SMA and the T-Line Regression lines. A pop on ERY could send the price to the Dotted Deuce for a nice little relief rally trade. The 200-SMA would be the stretch target. G

The Road to Wealth Update

As of the close 10/17/18, the account is on track with a 363% YTD. We are long WMT, and PZZA both are green and working (not very fast mind you). We only added one new trade yesterday. We are kicking of Road to Wealth Live today – more info to come.

 

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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SPY • SP-500 What a Mess!

The SPY has lifted off the 200-SMA but remains in the sketchy territory. The Weekly is still looking at a red V-Stop and price on the weekly chart is still under all the T-line regression Lines sketchy, sketchy, sketchy. Above $280.45 the SPY could see $283.15, and that puts price closer to a resistance problem.

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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

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.

 

 

10-16-18 eLearning

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Open Question/Answer Session

In this video, Doug Campell fills in for Rick and covers markets as well as a wide range of trading topics.  Many tools, techniques and tickers are covered.

1 hour 23 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

COLL Setup and Trade Plan

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Today’s Featured Trade Idea is COLL .

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.

Note: Beware the overall market indecision. Mixed trends (short and long-term) and very volatile action (many “gap and fade” as well as intra-day reversals) make this a treacherous market.  Bear Market bounces are not when we should be getting very long in our account unless we are very quick and agile in our trading style.

COLL has been in a long-term downtrend but has been forming a bottom over the last couple of months. We can see a double bottom in September and an Inverted Head & Shoulders pattern of sorts forming since August. In early October it also broke into an RBB pattern and then consolidated at resistance (neckline of the Inv. H&S). Tuesday it completed a Morning Star type signal to break through that resistance.

I will look for an inside day Entry, perhaps on a retest of the b/o to prove Support) using a Stop below Tuesday’s candle and Targets defined by S/R levels from Weekly charts.

Trader Vision warns us to think before taking this trade. We have about 3 weeks until the next earnings report. However, the biggest concern is the very volatile overall market that has been Bearish both long and short-term until yesterday. Caution is advised.

TV20/20 also tells us this trade plan offers over 11% in potential reward. However, within my position-sizing rules, it does not have the potential to reach this account’s Trade Goal. It offers relatively small risk to Stop Out($90), but does not quite achieve a 2:1 Reward/Risk at the 1st Target. However, at the 2nd Target, the overall trade can achieve a 3.25:1 Reward/Risk.

Again, both common sense and Trader Vision are urging caution in this market. While this is a nice chart setup, not every day is one to be trading and a Bear Market Trend bounce it’s certainly not a great time to be taking on as many Long trades.

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 COLL Trade Setup – As of 10-16-18

COLL Chart Setup as of 10-16-18

The Trade Plan

COLL Trade Plan for 10-17-18

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.

***************************************************************************************************

Maintain an Edge

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Maintain an Edge

Maintain an EdgeTrading during the volatility of a major selloff is always challenging but double up on the volatility adding in an earnings season, and traders will likely find it very difficult to maintain an edge.  Trading without an edge is gambling with the house odds stacked heavily against you.  Gambling can certainly be exciting at the beginning but keep in mind at the end of the day there are no medals for bravery in the market.

Trading is a marathon, not a sprint and if you expect to win you have to stay disciplined to a plan.  If the market is open, many traders feel the pressure that they have to trade, but trading just for the sake of trading is a business model for losses.  If you have an edge, then by all means trade!  If you don’t have an edge and stand aside, you protect your capital.  Losing can certainly be character building, but the winner will be the one that traded wisely growing the account trading only when they had an edge.  Who would you prefer to be?

On the Calendar

The Wednesday Economic Calendar starts early with the MBA Mortgage Applications report at 7:00 AM Eastern.  The market-moving Housing Starts at 8:30 AM expects a slight decline in starts to 1.216 million while at the same time permits are rising to 1.272 million according to consensus estimates.  !0:30 AM brings the EIA Petroleum Status Report with a Fed Speaker to follow at 12:10 PM.  Then we will get a little insight into what the FOMC thinks when they release the last meeting minutes at 2:00 PM.

On the Earnings Calendar, we have 63 companies.  As earnings season continues to ramp up, make sure you are planning all your trades having checked them against the earnings calendar.

Action Plan

After such a blowout report by NFLX yesterday afternoon, Asian markets closing bullish across the board and European markets mostly positive, US Futures are pointing to a modest decline at the open.  After rising 547 points in the Dow yesterday, I view only a slight pullback as a substantial win this morning.  However, as the indexes rush back up into major resistance levels, we need to watch for potential pullback and failures.

Earnings season and how companies report will add a significant challenge for swing traders.  Volatility will remain high and we significant overnight index reversals are certainly possible greatly diminishing the swing traders edge.  However, this could be a very good environment for day traders capable of handling very fast price action.  Standing aside and waiting for your edge to return is a very viable solution to this problem.  You have nothing to prove by fighting the market and will gain no honor in doing so.  That is, of course, easier said than done so if you do decide to trade, consider smaller positions and a willingness to remain flexible and take profits faster in this volatile environment.

Trade Wisely,

Doug

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Bullish Constructed Double Bottom RBB Setup

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Bullish Constructed Double Bottom RBB Setup

What do you get when you have a bullish constructed double bottom, a price action breakout of the 50-SMA on better than average volume followed by supported consolidation and a Bullish Morning Star? When the 200-SMA is the target direction, you have an (RBB) Rounded Bottom Breakout. COLL is set up as an (RBB) trade with the max target being 23%. The (RBB) set up is one of my favorite strategies and is a great risk/reward trade.

The Road to Wealth Update

As of the close 10/16/18, the account is on track with a 360% YTD. One of the strategies I use is the (RBB) Rounded Bottom Breakout. Tonight 10/17/18 I will be presenting a workshop on the (RBB) Rounded Bottom Breakout. To read more about it and Super Bonus Click Here. What would 360% do for you?

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Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

____________________________________________________________

SPY • SP-500

The SPY is trying to build a bounce trade off the daily 200-SMA and the weekly 50-SMA. Yesterday the buyers came to town looking for a fight, they got it and won. Price closing over the Dotted Deuce yeast was impressive and positive but did not fixe the chart to be crazy bullish. I do see a Low and a high; now we need a test for a higher low and breakout of the high then we would have a tradable bottom in the SPY.

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****VXX – The VXX chart is currently being rejected by the 200-SMA, this very normal in this type of chart pattern.

Focus Trading Education

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

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.

 

 

Market gaps and overnight reversals

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Market gaps and overnight reversals

Market gaps and overnight reversalsMarket gaps and overnight reversalsMarket gaps and overnight reversalsMarket gaps and overnight reversalsWith the ramp of 4th quarter earnings season coupled with high volatility of the recent selloff, expect daily market gaps and possible overnight reversals to make swing trading very challenging over the coming weeks.  Fast morning price action with whipped up emotion as result roll-out will likely produce a lot of head fakes whipsaws in the intra-day price action.

Avoid gambling and be very picky about the trade setups you take during this period.  Always check current holdings and stocks your interesting in purchasing against upcoming earnings reports.  Plan trades carefully that always include an exit plan if your wrong to avoid emotional decision making in the heat to the moment.  Consider reducing position sizes as a method of controlling risk during just high volatility events and be willing to scale out of positions or take profits sooner amidst wild price action.  If I stock happens to gaps in your favor, remember that gaps are gifts, take and be grateful for what the market has given you.

On the Calendar

The Tuesday Economic Calendar begins at 8:55 AM with the Redbook Report.  The most likely market-moving report of the day is Industrial Production at 9:15 AM which expects a 0.2 gain with manufacturing also up 0.2 percent.  The Housing Market Index and the JOLTS report are both at 10:00 AM.  Housing according to consensus is expected to remain flat with a reading of 67 while forecasters see job openings in the JOLTS report holding steady at 6.905 in August.  We have two-Bond Auctions at 11:30 AM with the Treasury International Capital report at 4:00 PM.

On the Earnings Calendar with 4th quarter earnings ramping up, we have several notable today.  Before the bell, BLK, JNJ, GS, MS, PGR & UNH are among those reporting.  After the bell, CSX, IBM, LRCX, NFLX, & UAL are some of the big names reporting.

Action Plan

Following a day of disappointingly choppy price action where the Dow lost 89 points the early morning futures are suggesting a substantial gap up at the open.  As frustrating as it is to be getting overnight gap reversals I think we had better try to get used to it as we enter the ramp up to 4th quarter earnings season.  Asian markets were mixed but mostly higher overnight while European markets are modestly higher this morning.

Expect volatility to remain high and always be careful not to chase morning gaps.  As I mentioned yesterday, the market internals suggests a bounce or reversion to the mean after such a sharp selloff.  I think the most telling of earnings reports today will be when NFLX releases its numbers after the bell today.  The beleaguered Tech Sector could sure use a win, but there is a significant concern that the so-called FANG stocks may see troubled waters ahead.  Let’s hope the fears are unfounded because of a poor report from NFLX could add insult to injury in the techs.

Trade Wisely,

Doug

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JNUG Setup and Trade Plan

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Today’s Featured Trade Idea is JNUG.

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.

Note: Beware the overall market indecision. Mixed trends (short and long term) and very volatile action (many “gap and fade” as well as intra-day reversals) make this a treacherous market.

JNUG has recently stopped it’s long-term downtrend and formed a bottom. In fact, you can see an inverted Head and Shoulders pattern bottom. Last week it also broke into a Rounded Bottom Breakout (RBB) pattern. Finally, on Friday it formed a Doji Continuation Signal setup. So I will be looking for follow-thru to complete that signal.

It must be said, this is a very risky market to be trading. The overall market is very over-extended to the downside. However it is also very volatile. (In this case, we can see the Volatility Stop indicator dots and how far they are from price now.) These are both warnings to avoid trading unless you are very quick, very diligent and experienced. Frankly I will likely sit this day out until a better market trend emerges.

That said, in this setup I will look for a breakout Entry a tight Stop (too tight?) and a Target set off a Weekly chart.

This would lay out as a better trade if we could use the 2nd s/R level above as Target. My fear of doing so comes from Junior Miners beginning to report in the next 8-10 days.

Trader Vision shows us that as an JNUG has no earnings report to worry about. However, as an ETF, it’s underlying stocks will report and this could cause trouble in the next 10 days. It also tells us that this is a very dicey market to be trading. JNUG shows 3 Bullish and 3 Bearish conditions and no signal. However, it is set up for a potential signal and is working on a RBB pattern. The real concern is shown in a red box. Both the market and the ticker are in short-term trends that counter their long-term trends. This is indecision.

TV20/20 tells us that even though we tightened the Stop, we cannot achieve our Trade Goal with this plan. However, we can achieve a greater than 2:1 Reward/Risk. Bear in mind that this may be false comfort as the more volatile chart of recent days mean a higher probability of Stop-out.

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 JNUG Trade Setup – As of 10-12-18

JNUG Chart Setup as of 10-12-18

The Trade Plan

JNUG Trade Plan for 10-15-18

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.

 

[button_2 color=”light-green” align=”center” href=”https://youtu.be/tNpNjgX4HTE” 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

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

 

***************************************************************************************************

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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Predictions

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Predictions

PredictionsI always find it amazing how a market selloff brings out a litany of talking heads with predictions of new highs or outlooks of gloom and doom as if they have the power to see the future.  It’s honestly laughable because most of them are just talking up their positions.  I submit to you that listening to all that noise is unproductive and very likely damaging to your trading success.

No one cares about your money more than you.  The talking heads care only about their money just like you and me.  The truth is they are working to take our money from us just as much as we want to take money from them!  It may sound harsh, but that’s the truth about the market.  Let them blather on making ridiculous predictions but don’t waste your time.  Learn to read price action, step up and make your own decisions and hold you’re accountable for the results.  That is now and has always been, the path to success.  Let’s turn off the noise, dump the predictions, roll up your sleeves and get to work.

On the Calendar

The Retail Sales report gets the new trading week started at 8:30 AM Eastern and is the most likely market-moving event on the Economic Calendar.  Consensus estimates expect a bounce back in September with a 0.6 percent increase with ex-autos up only 0.4 percent.  Also at 8:30 AM is the Empire State Mfg. The survey which expects steady and growth with a reading of 19.3 in October vs. 10.0 in September.  10:00 AM brings the Business Inventories report which consensus sees a 0.5 increase for August.  After that, we have two Bill Announcements at 11:00 AM and two Bill Auctions at 11:30 AM to wrap up the calendar day.

On the Earnings Calendar, we have 22 companies reporting results as the 4th quarter earnings season ramps up.  Most notable before the bell are BAC and SCHW.  After the bell, look for JBHT as the most notable of the afternoon.

Action Plan

Those picking up positions as the market rallied into the close on Friday are likely a little disappointed this morning seeing the Futures once again under pressure.  Asian markets all closed down about 1.5% overnight while European markets are currently printing mixed results.  US Futures have recovered some of the overnight lows but as I write this currently point to 100 point gap down at the open.

T2108 and T2122 suggest a short-term oversold condition so keep eyes on price action looking for clues of a rally and a reversion to the mean.  Please understand this in no way means a rally will happen today so don’t rush in anticipation.  Wait for price action clues!  Remember volatility is likely to remain very high which means we need to prepare for head fakes, whipsaws, and fast price action which could make any rally challenging to enter.

Trade Wisely,

Doug

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