Morning Star Alert (RBB) Test PBO Bullish above $5.80 with a stop around $5.55

August 28, 2018 by Rick Saddler

Morning Star Alert (RBB) Test PBO

FTR formed a weekly Morning Star alert signal that has pulled in enough buyers to hold over the 50-SMA. The daily chart shows us a bullish breakout over the 50-SMA followed by 5 bars testing the 50-SMA fo form a little bullish flag pattern. FTR is now set up in an (RBB) Rounded Bottom Breakout pattern/strategy where we look for a bullish reach of the 200-SMA. Looking for a bullish buy over $5.80 and target zones up to about 25%. A protective stop of about $5.55 will help protect against big losses.

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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

FTR $654.00 Trade Plan Click Here

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SPY • Up Up And Away

The Bulls are out of the pen with the freedom of no past resistance to run free. The breakout was a beautiful orchestration of bullishness, the follow through has been strong, and the trend has been super. Let the bulls run…. Easy traders, let’s remember that price action will have minor to painfull pullbacks, price action likes to test recent bullish price moves. Are morning prayer “We swing traders will NOT chase on fear of missing out” We will wait until a good bullish chart (Like The SPY) see’s profit taking and bulls back into trend support and then show signs of buying.

T-Line • Price Leaves T-Line

Price has gapped away from the T-Line, their future is always the same. They will meet up again.

****VXX – Showed no sign of real fear yesterday, The VXX is trying to slow it’s decent down and trying to work on a higher low.

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

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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

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.

FTR Setup and Trade Plan

August 28, 2018 by Ed Carter

Today’s Featured Trade Idea is FTR.

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

FTR has been a bullish trend the last month. After breaking into an RBB pattern (and through a resistance level), it has consolidated…holding that level as Support. It printed a Morning Star on Friday and followed-up with an indecisive Doji/Spinning Top on Monday.

I will look for a b/o buy with my Stop below the most recent candles. Targets are defined off the Weekly Chart S/R levels.

Trader Vision tells us that earnings are out of the way and that we have at least 4 Bullish conditions (Pattern should also be bullish) versus only 1 Bearish condition (short-term bias has been a consolidation/pullback. It also tells us we can get a plan a trade with good profit potential while keeping both our “Risk to Stop-out” and position size very reasonable.

TV20/20 then tells us this plan offers great potential. We could sell the entire position at about three-fourths the way to the 1st Target and still achieve our Trade Goal. At that 1st Target we would be getting about 2.85:1 Reward/Risk, but if we can sell half there and hold the other half to the 2nd Target, we can get 4.19:1 ($654 / $156) Reward / Risk Ratio.

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 FTR Trade Setup – As of 8-27-18

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, 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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Their horns are still very sharp!

August 28, 2018 by Doug Campbell

Their horns are still very sharp!

The Bulls proved their horns are still very sharp as they pushed the Bears back on the news of a US-Mexico trade agreement. All four major indexes printed new record highs, and the only hint of profit-taking came in the IWM as it pulled back before the close. Today the Bulls certainly have the advantage of momentum, and current Futures suggest another modestly bullish open. However, after such a big surge in price, it would not be out of the question to see some profit-taking begin soon.

As a full-time trader with a family that depends on me, I make a habit of taking some profits when the market is showing strength. Consequently, I went to the bank yesterday and plan to do the same today. I’m always very grateful with the market give up profits so easily on a big surge. As traders, we all want more, but the last thing we want to do is allow greed to prevent us from taking profits.

On the Calendar

International Trade in Goods tops the Tuesday Economic Calendar at 8:30 AM eastern and is a potential market-moving report. According to forecasters, the good deficit will widen to $69.4 in July vs. $67.9 billion in June. At 9:00 AM is the S&P CoreLogic Case-Shiller expects home prices to gain 0.2 percent in June holding the year-on-year at 6.5 percent. Consumer Confidence is at 10:00 AM continues to strength expecting at the reading of 126.8 in August. Other than that we have Retail Inventories & Wholesale Inventories @ 8:30 AM, Redbook @ 8:55 AM, Richmond Fed Manufacturing Index @ 10:00 AM, State Street Investor Confidence Index @ 10:00 AM, and Bond Auctions @ 11:30 AM & 1”00 PM to close the calendar day.

We have 40 companies reporting with BBY and TIF among those coming before the market open. Among the reports after the bell, today is HPE and HRB.

Action Plan

A very nice bullish surge as the US and Mexico come to an agreement on trade yesterday. The DIA, SPY, and QQQ left behind open gaps as well as closed at new record highs. The IWM also saw a strong bullish surge but was unable to hold on to those gains throughout the day leaving behind a shooting star candle pattern. European markets are modestly bullish across the board this morning while the Asian markets closed the day relatively flat. Currently, the Dow futures are pointing to a modestly bullish open but with earnings and economic news before the bell that could certainly change.

Momentum up favors the bulls but keep in mind profit-taking could begin at any time considering yesterdays big move. As the market rallies, remember to take some profits along the way. Never want to allow greed to get in the way of taking profits.

Trade Wisely,

Doug

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Let’s go Bulls!

August 27, 2018 by Doug Campbell

Let’s go Bulls!

With the Bulls solid performance on Friday and current futures pointing more bullishness this morning, I want to cheer them on with a, Let’s go Bulls! Currently, the futures suggest that that the QQQ will join the SPY and IWM this morning breaking to new record highs. I’m all for that, and of course, will enjoy the profits of the bullish price action and will always hope for more.

However, if I put my feet back on the ground and look at the chart critically, I also have to recognize that a breakout of resistance is only valid if the bulls can prove to hold it as support. So as wonderful as it is to see new records being set we have to remember that is only half the battle. That means I must still stay focused in on price action watching for clues of a bear attack. If you have traded very long, you have heard the phrase, “pop, and drop.” New market highs with a gap up are the perfect set up for that nasty phrase to become a reality. So let’s cheer for the Bulls but keep in mind even when the Bears seem hidden they are always there and always hungry!

On the Calendar

The Monday Economic Calendar begins with the Chicago Fed National Activity Index @ 8:30 AM Eastern. The Dallas Fed Mfg. Survey follows @ 10:30 AM with four bond events between 11:00 AM and 1:00 PM. None of today’s reports would be expected to move the market.

The Economic Calendar shows 24 companies expected to report today. Before the bell, KLXI and USAT are among those reporting with HEI being the most notable after the bell.

Action Plan

Friday’s nice broad market rally saw the SPY and IWM both close at new record highs and the QQQ just a quarter point below a record high breakout. Even the DIA got into the game, breaking above the March high holding that level through the close of the day. Keep in mind that the Dow has a lot of catching up to do and still more than 800 points below the January high. Overnight Asian markets were solidly bullish across the board. European markets are currently also bullish this morning holding gains across their major indexes. Consequently, US Futures are pointing to follow through bullishness this morning with the QQQ currently indicating a gap to new all-time highs.

The Bulls seem very much large, and in charge, but remember breaking through to new record highs is just half the battle. Now it’s important that the Bulls prove they can hold on to this new level as support! As you plan your day try not to get caught up in morning hype and chase into trades well within there rally. We want to buy stocks at or near price support. Keep a critical eye on price action and keep in mind that a gap up to new record highs is the perfect set up for a whipsaw if the bulls are unable to support the gap. Let’s go bulls!

Trade Wisely,

Doug

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EVH Setup and Trade Plan

August 26, 2018 by Ed Carter

Today’s Featured Trade Idea is EVH.

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

EVH has been in a Bullish Trend since the last quarter of 2017. In the last month, it has made another leg higher and has tightly consolidated over the last 8-9 days. (We might even call it a Pop-Out-of-the-Box setup.) Then on Friday, it printed a Morning Star type signal.

I will look for a b/o Entry (above the box), using the box as protection for my Stop tight below. Target prices were defined off longer-term charts and confirmed by Fib. Extensions of the August rally run.

Trader Vision shows us that earnings are out of the way for EVH. It also tells us we have 6-7 Bullish conditions (depending on your view of a Morning Star signal Friday) and no Bearish conditions in this setup.

TV20/20’s Trade Planning capability made it easy for us to adjust Entry to ensure we’d be getting 2:1 Reward/Risk to the first Target. It also tells us that if we achieve both Target prices, the overall trade will give us 2.8:1 ($399.50 / $142.80) Reward/Risk.

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

The EVH Trade Setup – As of 8-24-18

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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HSC Setup and Trade Plan

August 24, 2018 by Ed Carter

Today’s Featured Trade Idea is HSC.

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

HSC has been a Bullish trend since February. In recent months, it has formed a Bullish Inverted Head and Shoulders pattern. As the last part of this, it has now also broken out of a J-hook pattern at the Inv. H&S neckline.

I do recognize that it has been running bullish for 6 days in a row and may need more rest before continuing. So it may not be a Friday trade as much as a soon trade. I will look for another potential rest day and buy a b/o if it holds the neckline as Support. The stop is not far below that Support and Targets are at levels where Fib. Ext. align with 5-8day chart S/R levels.

Trader Vision tells us earnings are out of the way and we have over 2mo. until the next round. It also shows us this Chart offers 5 Bullish Conditions and no Bearish conditions, making for a nice long Setup.

TV20/20 also shows us that this Trade Plan can achieve our goals. It gives us a 2.2:1 Reward/Risk at Target #1, 3.1:1 at Target 2 and if we reach the 3rd Target we would end up with a trade that gives us over 3.8:1 ($411.50 / $108). So the plan is solid.

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

The HSC Trade Setup – As of 8-23-18

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

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Defending Support

August 24, 2018 by Doug Campbell

Defending Support

Although the price action yesterday was challenged by a nasty whipsaw the Bulls did a good job of defending support levels. This morning it would seem the Bulls have gathered some reinforcements and are looking to challenge the January high in the SPY. The SPY has been pounding on that door all week, and just maybe the Bulls can break it down today.

As you know, I like going to the bank on Friday. The expected gap up may be just the reason I need to take some profits and reduce my weekend risk. Stay focused on price action because market highs can produce head fakes and whipsaws. A morning gap into resistance is a perfect setup for both so set aside your bias and be ready to react if that happens to occur. Personally, my hope is for a breakout and run higher. Unfortunately, I can’t pay my bills with hope.

On the Calendar

We kick off this Friday on the Economic Calendar at 8:30 AM with the Durable Good Orders. Consensus suggests an increase of 0.5 percent with core capital goods also up 0.5 percent. After that, we have a Fed Speaker @ 10:00 AM and the Baker-Hughes Rig Count at 1:00 PM. Also, keep in mind there will likely be a slew of news reports from the Jackson Hole Symposium.

On the Earnings Calendar, we have a very light day with under 20 earnings reports. Most notable would be FL, BKE, HIBB and UBNT all reporting before the bell today.

Action Plan

After a day of choppy price action and nasty whipsaw, the Bulls seemed to gather some energy overnight. With apparently no concern for rising tariffs Asian market closed mostly higher. European markets are higher across the board and look to finish this week on a positive note. Consequently, the US futures are pointing to a bullish open with the Dow expected to gap more than 50 points higher.

Perhaps today is the day when the SPY breaks out to and new record high joining IWM. That’s my hope, however, once again we have to watch carefully for the possibility of head fakes and whipsaws. Remember volumes continue to be low, and the news will be bursting with reports out of Jackson Hole. Remember today is a great day to put some profits in your account and a gap up morning may be just what the doctor ordered to make that possible. Have an awesome weekend.

Trade Wisely,

Doug

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PBO T-Line Bullish Engulf bullish above $63.75 with a stop around $62.20

August 23, 2018 by Rick Saddler

PBO T-Line Bullish Engulf

ZEN has drawn us a picture of a Pull Back Opportunity (PBO) to the T-Line with a Bullish Engulf. ZEN has been in a strong trend until June-July, then gapped. After the gad the consolidation started with mild selling around the T-Line to the 34-EMA, this is what we call the (PBO). Yester, the Bullish Engulf, is suggesting the buyers could be getting ready to challenge the recent high and run higher. I am bullish on the chart and buy bullish above $63.75 with a stop around $62.20

Trading Tip – Some days are about protecting profits, not making more profits.

Trading Tip – Daily, 2-3 and 5-day charts give important clues.

Trading Tip – Sell or trim profits off as price reaches important levels.

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 is Rick is adding to his trade watchlist today? A 246% plus increase in 7 months can’t be all wrong.

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SPY • Struggling with 2018 High

Boring and uneventful day yesterday. The SPY is struggling with the 2018 highs and seems very stubbern when comes to letting the sellers in the house. Bottom line is price needs hold above the T-Line and breakout. If the sellers can close us below the T-Line this will set the stage for a test of the 34-EMA again.

T-Line • Traders Best Friend

Five-day T-Line Run, the question is will today make six?

****VXX – Closing below the T-Line is telling us the fear is not growing, the price action of the last three days is telling us the fear is trying to stir.

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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.

Looking for Inspiration

August 23, 2018 by Doug Campbell

Looking for Inspiration

Another day passes with the market looking for inspiration. We saw the Bulls at work in the QQQ and IWM yesterday with Bears winning the day in DIA and the opposing sides about equally in the SPY. Overall trends are still bullish as this battle at resistance has yet to reveal a clear directional conviction. Asian markets closed mixed and European markets currently lean slightly bearish. Surprisingly the Dow Futures are currently a flat open even as the US and China raise tariffs by another 16-billion.

With the bullish trends still intact, I remain cautiously optimistic but recognize the fact that at any time as bulls and bears battle near resistance that either side could easily gain control. So as they continue to look for inspiration, I must also be careful not to over trade and closely watch price action for clues. The old phrase, “hurry up and wait,” seems very appropriate for the current market condition.

On the Calendar

The Jackson Hole Economic Symposium begins today which will likely create a significant number of headlines that could have some market effect. Weekly Jobless Claims will kick off the Economic Calendar at 8:30 AM which consensus expects a small increase to 215,000. At 10:00 AM we will get the latest reading on New Home Sales which are expecting a solid increase to 649,000 vs. 631,000 in June. The Natural Gas Report @ 10;30 AM and the Fed Balance Sheet @ 4:30 indicated as potential market-moving but unless there is a major surprise it’s unlikely.

On the Earnings Calendar, we have nearly 50 companies expected to report results. Before the bell, we will hear from BABA & HRL with SDSK, GPS, INTU and ROST reporting after the close.

Action Plan

The Bulls showed some tenacity yesterday especially in the QQQs and the IWM indexes. The SPY made another attempt to break through to record highs however finished the day just below. The Bears were the most active in Dow with the index slipping 88 points to test the March high as support. Durning the night futures were slightly weak but once again have managed to rally, currently indicating a flat to slightly bullish open.

All and all the Bulls have maintained control even with lighter than average volume. With 16-billion in new US tariffs and Beijing immediate retaliation of 16-billion, I’m surprised the market is shrugging it off as if nothing happened. Once again I would suggest traders use a little caution as we dance around record highs. Big moves up or down are possible as we consolidate near resistance. Also, remember head fakes and whipsaws are common near market highs so stay focused on price and plan your risk carefully.

Trade Wisely,

Doug

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