Bullish “W” Pattern Started Party ASNA • Bullish Above $4.85 • stop $4.65

August 22, 2018 by Rick Saddler

Bullish “W” Pattern Started Party

In mid-July, ASNA started a Bullish “W” Pattern that Started the party that has lead ASNA to break out of the $4.60 level. ASNA is in a 16-day T-Line Run that has broken out of resistance. Now, 5-days of testing support and the T-Line and we now have a bullish Morning Star on the 2-day chart. The weekly chart should also be mentioned, a Bullish Rounded Bottom Breakout – J-Hook Continuation Pattern breaking the Dotted Duece.

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 • Indecisive

I would say yesterday’s close in the SPY was a little indecisive with a Doji testing the 2018 highs and being up 4 bars with higher highs and lows. The bullish wall of worry can be testing to all of us. I have found focusing on what price action for the last 2-3- days and what it’s doing in relationship with the T-Line is better than purely focusing on the current candle. If the T-Line is trending up and price makes me nervous, it is usually just noise within a range. The $286.40 area stoped price for now, and we should see a little consolidation.

T-Line • Traders Best Friend

It’s crazy how well the T-Line works with a price. It does lag with the price but moves close enough to keep a swing trader in the trend or pattern. I find following price and the T-Line together helps to keep me away from the hard right edge. The hard right edge puts thoughts in your head that will make you crazy.

****VXX – Closed with a Doji/Bullish Engulf yesterday, a relief rally is likely. We did buy a little yesterday around $28.90

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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

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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 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.

ASNA Setup and Trade Plan

August 22, 2018 by Ed Carter

Today’s Featured Trade Idea is ASNA.

Members can hear Rick’s detailed review in the trading room at 9:10am Eastern. For now, here is my analysis and a potential trade plan made using our Trader Vision 20/20 software.

ASNA has been in a bullish trend since late March and over the last month made another strong push higher. In the last week it has taken profits on in a shallow pullback/consolidation that is marked by the number of Doji (indecision) about the selling.

On Tuesday it printed a Trader’s Best Friend signal and is right at the recent highs. I will be looking for a b/o Entry using a line across the Doji bodies as support to protect a Stop. My Targets will be up where Weekly S/R levels match well to Fib. Ext.

Trader Vision shows us this ticker has 6 Bullish conditions and no Bearish conditions. A check of NASDAQ tells us earnings should not be until 9/24. So this Chart should have time to work and is a very favorable setup.

TV20/20 does the math for us, which allowed us quickly review and analyze multiple scenarios. In this case we added a 3rd Target to the trade. However, we have the comfort of knowing that if we only reach the 1st Target, we can sell the entire position there and still easily 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 ASNA Trade Setup – As of 8-21-18

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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Stalemate at Resistance

August 22, 2018 by Doug Campbell

Stalemate at Resistance

As the Bull worked to push the markets higher yesterday, the Bears battled them to a stalemate at price resistance. Unfortunately, they left behind the potential topping candle patterns on the DIA, SPY, and QQQ. At resistance, the Shooting Star Candle Pattern should give a little pause and raise our caution levels. However, a single candle pattern is only a very short-term clue. To increase the importance of a shooting star pattern, it must follow-through with bearish price action.

As a result, there is reason for traders to approach the market this morning with a little caution but no need to run for the hills in panic. After such a strong rally where the Dow has gained nearly 850 points from last Wednesday’s low a simple consolidation at the highs is certainly possible. Give price resistance respect and stay focused on price action. If you can lock in some profits to reduce risk and be careful not to load up on new risk because a stalemate can shift directions very quickly.

On the Calendar

We have had it easy so far this week, but today on the Economic Calendar we have three potential market-moving reports. At 10:00 AM forecasters expect Existing Home Sales to increase to 5.420 million in July. Then at 10:30 AM we will get the result of the unforecast EIA Petroleum Status Report. Last but not least the FOMC will release their minutes from their last meeting at 2:00 PM.

On the Earnings Calendar, we have a slightly lighter day, but some name reports that could move the market. Before the bell LOW, TGT & MOMO report with JBSS, HTHT & LB fessing up after today’s market close.

Action Plan

The Bulls managed to rally yesterday setting a new record high close for IWM. The SPY ran up and printed a new record but unfortunately was unable to hold on to it by the closing bell. Shooting star candle patterns were left behind in the DIA, SPY, and QQQ as Bears worked to defend resistance levels. Futures which were down more than 100 points during the evening hours have recovered substantially now indicating a flat open.

I think it would be wise to exercise a little caution this morning with the battle at resistance in full swing. Keep in mind with the FOMC minutes released at 2:00 PM we could see the light choppy price after the morning rush as the market waits.

Trade Wisely,

Doug

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8-21-18 Member E-Learning

August 22, 2018 by Ed Carter

A Look at Today’s Market (and Your Charts)

In this video, Rick Saddler discusses the current market conditions and reviews many charts, talking about the current setup and how to analyze a potential trade.

1 hour 5 minutes

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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

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Trade Alert

August 21, 2018 by Doug Campbell

Good Afternoon Team.

During the live session today Dish alerted up to a pop out of the box pattern. The stock is still under some resistance so take that into consideration if you decide to enter this position. Consider the DISH the OCT 32.5 Calls to establish a directional position. An initial conditional stop $34.45.

Remember all trade ideas are for your evaluation and consideration.

Trade Alert

August 21, 2018 by Doug Campbell

Good Morning team.

Ad the market moves toward resistance I would like to pickup a little negative delta just in case the market fails. The NASDAQ looks the most vulnerable at the moment so I want taking a look at Tech I think ADBE is looking weak.

This trade is early because we have no failure pattern as of now but the rally has moved right back up into resistance and downtrend. Because it early please feel free to wait on entering this trade idea. Consider selling the SEP 262.5 Calls and Buying SEP the 267.50 Calls creating a Bear Call Credit Spread. Try to get $1.20 or better in the Credit. A close above $257 would be the stop out area to consider.

Remember all trade ideas are for your evaluation and consideration.

HZNP Setup and Trade Plan

August 21, 2018 by Ed Carter

Today’s Featured Trade Idea is HZNP.

Members can hear Rick’s detailed review in the trading room at 9:10am Eastern. For now, here is my analysis and a potential trade plan made using our Trader Vision 20/20 software.

HZNP is working on a PBO with a very reasonable 23.6% pullback after a strong run higher. The bulls seem to be stepping back in now the last couple days.

However, to be conservative, I will look require the trade to b/o of the J-hook pattern to prove the Bulls are in control again. Since the Entry is 3.5% higher, my Stop will be below Monday’s candle and Targets are Fib. Ext. that match some Weekly S/R level.

Trader Vision 20/20 shows us that earnings are out of the way. It also tells us that we have 5-6 Bullish conditions with no Bearish conditions in this Chart Setup.

TV20/20 tells us this plan can achieve our Trade Goal prior to reaching the 1st Target. However, we will get 2.45:1 Reward/Risk at that 1st Target. If we sell 100 shares there and can hold the rest to sell at the 2nd Target, we achieve almost 3:1 Reward/Risk ($455/$152).

This would be a nice little 12% trade and it assumes waiting on b/o confirmation. So it is a bit more conservative on Entry.

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

The HZNP Trade Setup – As of 8-20-18

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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Wall of worry

August 21, 2018 by Doug Campbell

Wall of worry

With the Bulls climbing the wall of worry toward resistance and all-time highs there seems to be a tentativeness in their pace. Perhaps is the just the summer doldrums with August vacations robbing volume or perhaps such fast rally without a confirmed US/China trade agreement has the Bulls questioning current valuations. Consumer defensive stocks continue to trend higher as do consumer staples and utilities are raising my concern there is a rotation toward safety.

My genuine hope is that the Bulls win the day and market enjoys a solid breakout rally. However, there are clues of caution that we should not ignore. Plan your risk carefully and be careful not to over-trade as the market creeps toward resistance. In my opinion, the QQQ currently appears the most vulnerable to a Bear attack so come on Bulls chug an energy drink and get moving.

On the Calendar

A very light day on the Economic Calendar today. We start with the Redbook at 8:55 AM Eastern and end with a 4-Week Bill Auction with nothing in between.

On the earnings Calendar, there are 32 companies stepping up to report results today. Before the bell, we will hear from, KSS, MDT, SJM & TJX. After the bell, JKHY, LZB, JRJC & MYGN will report.

Action Plan

Asian markets we up overnight as the US and China continue to work on a trade agreement. Currently, European markets are mostly bullish with the FTSE basically flat on the day. US Futures are pointing to a bullish open this morning as the Bulls continue their tentative push higher. The Dow closed above its March high while the SPY inched its way toward price resistance and new record highs. IWM also seems content to climb the wall of worry, as it grinds toward resistance. Although holding at its uptrend, the QQQ’s appear to be struggling and will be watching closely for failure clues.

Getting this close to a record high in the SPY I want to believe the bulls will get the job done but I also have to give respect to resistance. After all, double top patterns develop in the same way. As a result, we need to keep a close eye on price action as we climb this wall of worry. There are a lot of very good looking charts but be careful in loading up on to much risk given the overall market condition. At the moment the QQQ’s seem the most vulnerable to a Bear attack and should be closely watched.

Trade Wisely,

Doug

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