You Gota Love Trend Lines TRUE bullish above $12.70 • Protective stop $12.30

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You Gota Love Trend Lines

7-touches on a trend line screams “You Gota Love Trend Lines.” TRUE has used the same trend line for the past three months. Yesterday after a couple of weeks of consolidation TRUE ran the stops all the way to the trend line where the buyers couldn’t get in fast enough. The weekly chart is bouncing off the T-Line like a well-oiled machine. Holding over the $12.40 area is bullish for TRUE and over $12.70 we are thinking a bullish buy with a $12.30 protective stop. Check out the TraderVision blog for target zones.

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

This link takes you to a project account that Rick started so members and students could see how it works Monthly Trading Results updated the first week of each month.

What’s on Rick’s watchlist today? A 246% plus increase in 7 months can’t be all wrong.

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SPY • Rest and Test Soon?

WOW! What a great day in the market yesterday, the buyers pulled further away from the T-Line making yesterday the tenth day in a bullish T-Line Run. Reminder!!!! Monday is a holiday, and the market will be closed. Friday everyone will be thinking about getting out of town. Market volume will likely be low and slow so I for one will be thinking about profits today.

We have yet to test the recent breakout ($286.63) I would suspect we will soon see rest and test, just something to think about.

T-Line • Traders Best Friend

Ten days in a T-Line Run or Ten days of sweet money-making a trend! Price action might be getting a little far from the T-Line, we might need to see price action slow up a little to allow the T-Line to catch up.

****VXX – Has been trying shape a bottom for the past 8-days, over the T-Line could lite a little fire.

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

Subscription Plans • Private 2-Hour Coaching

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.

 

 

TRUE Setup and Trade Plan

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Today’s Featured Trade Idea is TRUE.

Members can join us in Trading Room #1 as Rick reviews the TRUE setup and all our member 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.

TRUE broke it’s downtrend in June and has been trending Bullish all summer. after it’s last big leg higher (on earnings) it took profit and consolidated for a couple weeks. Then Wed. bears tried to drive it down. However, at the trend line the Bulls stepped in and drove it back up, resulting in a large Bullish Engulfing signal.

I will look for a slight inside day Entry using the high of the big Earnings candle as the 1st Target and the alignment of Weekly support/resistance level and the 23.6% Fib Extension as the 2nd Target. The Stop will be below Wed. Candle body and the Support level from the last couple weeks.

Trader Vision shows us that earnings are out of the way and we have 2.5mo until they come around again. It also tells us that we have 6 Bullish Conditions versus 1 Bearish
Condition (the short-term consolidation trend prior to Wed. b/o candle).

TV20/20 also allowed us to make and then easily tune a plan that meets our Trade Goal. It shows us the current plan delivers 2.25:1 Reward/Risk at the 1st Target and 3.12:1 overall at the 2nd Target ($375/$120). In addition, it tells us that the trade only needs to reach $13.87 in order to sell the entire position and 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 TRUE Trade Setup – As of 8-29-18

TRUE Chart Setup as of 8-29-18

The Trade Plan

TRUE Trade Plan for 8-30-18

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, 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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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

 

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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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Tenacious Bulls

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Tenacious Bulls

Tenacious BullsTenacious Bulls gathered energy at the rest stop on Wednesday to once again set new records in the SPY, QQQ, IWM yesterday.  What goes up must eventually come down, but with the possibility of a trade agreement between the US and Canada by Friday, I think it would be unwise to anticipate short positions.

However, with a 3-day weekend just around the corner and the likelihood that many traders will extend the holiday by taking off Friday and/or Tuesday don’t be surprised to see some choppy light price action.  Also with the risk of market-moving news over a 3-day weekend don’t be surprised to see some profit-taking before the end of the week.

On the Calendar

Weekly Jobless claims kick off the Economic Calendar at 8:30 AM Eastern.  Consensus expects claims to come in at 214,000 showing continued strong demand for labor.  Also at 8:30 AM Personal Income and Outlays which expect incomes to rise 3.0 percent with consumer spending up 0.4 percent.  The overall PCE is looking at a year-on-year rate of 2.3 percent which is an increase of 2 percent.  At 10:30 we get the latest reading on US Natural Gas supplies, however, there is no consensus forecast.  Then at 4:30 PM the Fed Balance Sheet.  We also have three Bill Announcements at 11:00 AM and the Money Supply report at 4:40 PM.

On the earnings calendar, there are over 50 companies reporting today.  Among those reporting before the bell, DG, DTLR, SHLD, and SIG.  After the close AMBA, LULU, ULTA, and COO are among those reporting results.

Action Plan

More record closing highs in the SPY, QQQ, and IWM as the took advantage of Wednesday’s rest stop to gather energy.  Unfortunately, Asian markets closed mostly lower overnight, and European are currently slightly lower across the board.  US Futures are pointing to a lower open with the Dow currently suggesting a gap down of more than 50 points.

With the Labor Day 3-day weekend just around the corner, a little profit-taking after this strong bullish run would not be all that surprising.  However, the Bulls have shown remarkable tenacity this week, and with the possibility of a Canadian/US trade deal by Friday, I wouldn’t want to anticipate a selloff by picking up some short positions just yet.  I have been scaling out of trades and taking profits since Tuesday of this week and will likely continue to so lowering my risk as we head into the long weekend.

Trade Wisely,

Doug

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8-28-18 e-Learning

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Trading the Market (Up or Down)

In this video, Doug Campbell discusses the current market conditions and reviews many charts, talking about how to analyze and trade the market…whether it is up or down.

1 hour 28 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

WMGI Setup and Trade Plan

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Today’s Featured Trade Idea is WMGI.

Here are my analysis and a potential trade plan made using our Trader Vision 20/20 software.

WMGI has been in a Bullish trend since early May. After the most recent profit-taking, the Bulls stepped back in. However, Monday was a bad day (on the announcement of pricing for an upcoming stock offering). Still, the Bulls bounced it up off of the 50sma on the day. Then Tuesday the Bears tried to push it back down only to be met by very strong Bull buying (causing a strong Bullish Engulfing signal).  On positive trading, I will look to Enter with a stop in the $27.50 area. Targets are set by S/R levels and Fib. Ext. shown for corroboration.

Trader Vision shows us that earnings are out of the way and we have 2.5mo. before they will be a concern again. It also tells us we have 7 strong Bullish conditions and no Bearish conditions in this setup. This could make for a nice trade.

However, TV20/20 also shows us that we had to play with the trade plan in order to set up a trade that can meet our trade goals. We have to accept a slightly larger position size than we’d like. In addition, even though we will get 2:1 Reward/Risk, we have to sell only 60 shares at the 1st Target and the remaining 90 at the 2nd Target (giving us a 3:1 Reward/Risk overall) in order to achieve our Trade Goal on this trade. Obviously, neither of these adjustments are ideal.

While your account size and goals will differ from this example, the important thing to note is that TV20/20 shows us that a trade which looks good on the chart, in fact, may not meet our standards. Knowing this, instead of just taking the trade and finding out afterward is a powerful tool in our Trader’s Toolbox.

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 WMGI Trade Setup – As of 8-28-18

WMGI Chart Stup as of 8-28-18

The Trade Plan

WMGI Trade Plan for 8-29-18

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, 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/olphT2sb-dA” new_window=”Y”]Trade Plan Video[/button_2]

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

[button_2 color=”orange” align=”center” href=”https://hitandruncandlesticks.com/product/trader-vision-20-20-monthly-subscription2/” new_window=”Y”]TV20/20 Software[/button_2]

 

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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Bullish Engulf Eats 12-1/2 Candles Bullish above $28.00 • risk protective stop near $27.50

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Bullish Engulf Eats 12-1/2 Candles

When a Bullish Engulf Eats 12-1/2 Candles, we call that a hungry candle. Yesterday the buyers created a very hungry candle in WMGI that seemed to get recharged with the 50-SMA. After reaching the $28.00 area, WMGI slipped to the 34-EMA and 50-SMA which acted support along with the weekly $26.40 line. The WMGI is a bullish chart, and after the bullish engulf clue we are looking for entry over $28.30 and a risk protective stop near $27.50

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

This link takes you to a project account that Rick started so members and students could see how it works Monthly Trading Results updated the first week of each month.

What’s on Rick’s watchlist today? A 246% plus increase in 7 months can’t be all wrong.

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SPY • Two Old Friends

Another close higher for the SPY and a nine-day T-Line Run. Yesterday’s candle closed below it’s open as if it realized price needs to slow down a little because it has moved too far from the T-Line. We have found that price action does not like to get to separate. Price could come to the T-Line or price could hang while the T-Line catches up. Either way, I see the two old friends getting together by Friday this week. Price closing above the T-Line makes the sky the limit r how high we can go, price slipping below the T-Line and price will step down on major moving average at a time.

T-Line • Traders Best Friend

With a 9-day T-Line Run, the bulls are feeling pretty good. The T-Line supports price action and when price flys high it will come back to the T-Line for a test.

****VXX – The VXX price action is trying to sneak above the T-Line, the price action seems to be slowly improving. A close above the T-Line will get us the 34-EMA.

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

Subscription Plans • Private 2-Hour Coaching

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.

 

 

Rest Stop?

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Rest Stop?

After another day of record-breaking highs, the Bulls largely decided to relax at a rest stop yesterday afternoon.  The question is will the Bull finish the remaining days so August strong or will they give the Bears a chance to feed.  It’s common after a major break out to see a consolidation or pullback to test support.  Unfortunately, there is no rule as to when that might occur.

Consequently, we have to stay with the current trend but prepare for the possibility of a pullback without bias.  I have been taking advantage of the current rally by taking profits and lower my overall risk to a pullback.  It’s very important to guard yourself against over-trading at or near market highs.  I hope that this is just a rest stop, and we will close August strong, but hope never pays the bills.  Stay focused on price action and always be prepared to protect your capital if the market decides to turn south and test support.

On the Calendar

Today’s Economic Calendar has three potential market reports.  First, GDP at 8:30 AM is expected to come in 4.0 percent with consumer spending coming in at 3.9 percent and GDP price index is seen holding at 3.0 percent.  At 10:00 AM, Pending Home Sales Index expect the July reading to come in unchanged at 0.9 percent.  Then at 10:30 AM is the EIA Petroleum Status report which is not forecasted forward but has recently shown an build in US supplies.  Other than that we have Corporate Profits @ 8:30 AM, the State Street Investor Confidence Index @ 10:00 AM, Bond Auctions @ 11:30 AM & 1:00 PM, with Farm Prices @ 3:00 PM to wrap up the day.

The Earnings Calendar today shows over 40 companies fessing up to results.  Among them, before the bell is AEO, DKS, and MOV.  After the close CRM, GES, and PVH are among those reporting.

Action Plan

Another day another record high close for the SPY, QQQ, and IWM indexes.  However, yesterday the Bulls seemed to run out of energy, but interestingly enough the Bears seemed to remain in hiding.  Asian markets closed mixed while the European markets all appear to be drifting lower.  Currently, US Futures appear mixed and at the moment point to a relatively flat open.

Hopefully, you have taken advantage of the rally and taken some profits because the market seems a bit unsure at the moment what comes next.  Commonly after a big break out prices will pull back to test support.  However, this could also be just a rest stop along the way to higher prices to finish out the month strong.  Only time will tell, and we will have to stay focused on price action to find the clues.  Historically, September and October are challenging months with higher volatility, but with the market currently very strong, there is no clue to that so far.  Stay with the trend but be careful not to overtrade around market highs.  The Bears are not showing themselves at the moment, but we know there always lurking around waiting to feed on unprepared trader accounts.

Trade Wisely,

Doug

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