Weekly 3 Bar Cradle Pattern Busted Out PSTG bullish above $27.35 stop $26.50

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Weekly 3 Bar Cradle Pattern Busted Out

Weekly 3 bar cradle pattern busted out and had shown bullish followthrough strength. The weekly chart has been in a fantastic bullish trend with buying opportunities on the daily chart. The daily chart shows a gap with bullish consolidation waiting for the T-Line to catch up. Price action and the T-Line have worked together again to present a buying opportunity with Tuesdays Engulfing candle and yesterdays inside day. We are bullish on the chart and a bullish buy over $27.35 with a protective stop about $26.50

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

Over $12,500 in profits in 7 months with a cost of $595.00 Monthly Trading Results updated the first week of each month.

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SPY • In The T-Line Trap

Yesterday was the 4th day of a lower low and lower high, price action also fell into a gap, and the Bulls have seemed to find a little support (for now). Overall the bigger trend is still bullish bit the swing trade trend is not so much. Not until we see a reversal pattern/price action. Stick with and focus on good trading rules, if you are not making money it’s not the market’s fault. We closed 1/ our QCOM for 58% yesterday

****VXX – The VXX is still trying to construct a bottom and getting closer to the downtrend line. Will the downtrend line reject price again or open the gate?

 

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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

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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.

 

 

PSTG Setup and Trade Plan

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Today’s Featured Trade Idea is PSTG.

Members can join us in Trading Room #1 as Rick reviews the PSTG 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.

PSTG has been in a bullish trend since early March of 2017. After a summer downtrend, it resumed a strong rally in August, taking a small amount of profit after the big pop. At this point the Bulls have resumed control and broken out of the consolidation/J-hook type pattern.

On Wed. PSTG put in a very long-legged Doji which shows good strength relative to the QQQ and NASDAQ charts. I will look for an Entry about where it closed, using Fib. Ext. target prices at these all-time highs. My Stop will be just below a shelf that was recent resistance and support.

Trader Vision shows us that we have 2.5 months until the next earnings report. It also shows us that this chart is displaying 5 Bullish Conditions versus no Bearish Conditions. This makes it a nice Chart Setup to consider for a trade.

TV20/20 also tells us this plan gives us only $127.50 in “Risk to Stop Out” while also having the potential for $307.50 in profit at the 1st Target price. This is a respectable 2.41:1 Reward/Risk ratio.

However, if sell half at that target, move up our Stop and ride the remainder up to the 2nd Target price, overall we can achieve a 3.26:1 Reward/Risk ($416.25:127.50). This would make for a trade with over 10% profit potential.

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 Trade Setup – As of 9-5-18

PSTG Chart Setup as of 9-5-18

The Trade Plan

PSTG Trade Plan for 9-6-18

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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Bulls Held Tough

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Bulls Held Tough

Bulls Held ToughThe Bulls held tough at trend and support yesterday even in the face of some nasty tech selling.  Now we need to see the Bulls muster the energy to follow-through and rally off of support.  With a very busy Economic Calendar today and several big earnings reports perhaps they can find the catalyst necessary to do so.  If the Bulls are unable to push higher, then keep a close eye on selling pressure in the tech sector.  We don’t want to see that pressure boil over in more selling that breaks support.

Be careful on the over-trade keeping in mind the possible 200 billion in tariffs threat that could happen this week and the big Employment Situation report on Friday which has in the past created light and choppy price action as the market waits.

On the Calendar

A busy day on the Thursday Economic Calendar begins at 8:15 AM with the ADP Employment Report.  ADP’s estimate in August is 182,000 but, this number has been quite inaccurate month over month.  The weekly Jobless Claims at 8:30 AM expect 213,000 up just slightly from last week when claims hit a 50-year low.   Also at 8:30 AM is Productivity and Cost which estimates nonfarm productivity is increasing to 3.0 and labor costs down 1.0 percent.

Factory orders & ISM Non-Mfg Index are both come out at 10:00 AM.  Factory Orders are expect a decline of 0.7 percent due to a sharp aircraft-related decline while the ISM consensus in August is for a slight increase to 56.7 vs. 55.7 in July.  EIA Natural Gas Report is at 10:30 with the EIA Petroleum Status Report coming at 11:00 both of which do not forecast forward.  Finally the Fed Balance Sheet at 4:30 PM which is scheduled to reduce securities holdings.  We have a Fed Speaker at 10:00 AM, 6-Bond Announcements at 11:00 AM and the Money Supply report at 4:30 PM to wrap up this very full calendar day.

The Earnings Calendar also has its biggest day of the week with nearly 50 companies reporting.  Look for BKS, GIII, and NAV to report before the bell with ABM, AVGO, FIVE, FNSR, GME, MRVL, OKTA, and PANW to report after the close.

Action Plan

Futures are pointing to a modestly higher open this morning in the Dow, but the SP-500 and NASDAQ are flat to slightly lower.  Asian markets were down across the board overnight with the European markets currently holding mixed results.  There is a lot of economic news today and keep in mind the big Employment Situation report comes out Friday morning.  Light and choppy price action can sometimes occur as the market waist for that government employment number so don’t be surprised if price action happens to be a little subdued.

The bulls has did a great job of holding trends and support levels yesterday.  If they can muster the energy to follow-through to the upside today that could prove to be very bullish for the market and an opportunity for buyers.  If they are unable to push upward the selling pressure seen in the techs yesterday could trigger some additional selling.  Remember the possibility of the new China tariffs still weighs on the mind of the market as well.  Price is King so stay focused on price action and know that head fakes and whipsaws continue to be a possibility as we test support levels.

Trade Wisely,

Doug

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9-4-18 eLearning Trading the T-line and 3ema

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Trading the T-line and 3ema

In this video, Rick Saddler discusses the current market conditions.  He then gives a lesson on how to trade using the T-line (8ema) and 3ema lines.  Numerous chart setups were discussed, including many potentially ready for trading on Wednesday.

1 hour 12 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

Indecisive Price Action

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Indecisive Price Action

Indecisive Price ActionLooking over yesterdays price action, I see indecisive candle patterns with bulls working very hard to defend against intermittent bear attacks.  The index trends are still clearly intact and bullish, but the cloud of a potential 200 billion in new tariffs continues to embolden the bears to test bullish defenses.  Thus far the bulls are still in control and holding above key support levels.

Unfortunately, the bulls are also having to fight against declines in Asia and Europe overnight, so futures are pointing to negative open to test the resiliency of the bulls.  Thus far the VIX has remained in check, so this could prove to be nothing more than a light volume pullback and a good setup for the indexes to move higher.  On the other hand, the tariff threat could green light a bear attack that breaks through support levels.  Watch price action closely and be careful not to anticipate and allowing your bias to cloud your view.  Whipsaw and quick price action are possible as we approach important support levels.

On the Calendar

We have an interesting Economic Calendar this Wednesday with a Fed presence as I’ve never seen before on a single day.  First, we have a potential market-moving report from International Trade @ 8:30 AM which consensus suggests will show a widening deficit to 50.2 billing vs. the 46.3 billing reading in June.  We have the Mortgage Application report at 7:00 AM and the Redbook at 8:55 but both are unlikely to move the market.  9:20 AM kicks off a parade of Fed speakers beginning with James Bullard, John Williams @ 12:30 PM, John Williams again @ 3:00 PM, Neal Kashkari @ 4:00 PM, John Willams for the 3rd time at 5:30 PM, with Raphael Bostic finishing up @ 6:30 PM.

On the Earnings Calendar, we have just over 30 companies reporting.  Among those reporting, today are HDS, CLDR, CTRP, CWK, DOCU, GWRE, MDB, OLLI, and ZS.  Make sure you are continuing to check reporting date against current holdings or before entering new positions.

Action Plan

Yesterday saw another intra-day bear attack with a very quick selloff in the morning followed by a slow grind higher as the bulls worked to defend supports.  Although the rally was nice to see, it left behind more questions than answers with indecisive candle patterns.  While we slept Asian markets closed lower across the board with the European market following the trend also currently showing losses across the board.

US Futures are currently suggesting a negative start to today’s trading, but they have currently rallied off the lows cutting the potential gap down by nearly half at this point.  Yesterday I suggested using some caution and being careful not to overtrade because of the current price action in the indexes is indecisive.  With market around the world showing pullback it would not be a big surprise if the bears attempt to test the overnight lows.  The bulls, however, will not give up control easily so we should also watch for price action clues or bullish strength as we approach important levels of support.  Quick price action and whipsaws are likely as the bears continue to test the bullish defenses.

Trade Wisely,

Doug

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GLUU Setup and Trade Plan

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Today’s Featured Trade Idea is GLUU.

Members can join us in Trading Room #1 as Rick reviews the ODP 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.

GLUU has been in an uptrend since early 2017. After a profit-taking pullback in July, a strong rally resumed in August. For the last 1.5 weeks, it has Consolidated in a tight box, creating a Pop-Out-of-the-Box Setup. (It also printed a Morning Star signal a few days back during this consolidation.)

I will look to Enter on a b/o of the consolidation with a Stop tight below the box. Targets were defined off an 8-day chart and the first Target happens to align tightly with a 61.8% Fibonacci Extension of the most recent leg of the rally run.

Trader Vision tells us that earnings are out of the way and we have about 2 months before they come around again. It also tells us that we have 6 Bullish conditions and no Bearish conditions in this Setup. This makes for a potentially very attractive trade.

TV20/20 then tells us that using this Trade Plan, we can take a position size just under 3% of this account and still keep our “Risk to Stop out” at $152. Using this plan, we would get 2.37:1 Reward/Risk at the 1st Target ($360/$152) and could achieve our Trade Goal if we had to sell the entire position at that point. However, if we can sell half at that price (to lock in profits) and ride the remaining half to the 2nd Target, we can achieve an overall 3.32:1 ($504/$152) Reward/Risk. Of course, we would have moved our Stop Loss higher by that point, which would reduce the Risk even further.  This all makes for a very attractive Trade Plan.

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  Trade Setup – As of 9-4-18

GLUU Chart Setup as of 9-5-18

The Trade Plan

GLUU Trade Plan for 9-5-18

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/aDg9ZIzCNb4″ 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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Price T-Line Trapped POOTB Pattern GLUU bullish above $7.75 • stop $7.35

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Price T-Line Trapped POOTB Pattern

GLUU is trapped between the T-Line and a recent high with a (POOTB) Pop Out of The Box pattern. With a great bullish trend, GLUU has had a 13-day T-Line Run with a recent lift and now a PBO to the T-Line with a (POOTB) Pop Out of The Box pattern. A breakout of $7.75 would indicate the buyers are supportive of a higher price. See Trader Vision Blog, a protective stop of about $7.35 helps to control risk. To learn more about this trade and other consider our Hit and Run Candlesticks Service.

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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?

The overall market is under pressure this morning and the possibilities of testing yesterday lows or making new lows are probable. The overall trend is still bullish but not necessarily a good day for new buys. Protecting and profiting from what I am currently managing will be the plan of today. I will update members if there is a change in my plan. The SPY held above the T-Line yesterday but this may not hold today if the bulls lose the Lower T-Line Band the 20-SMA is likely to be tested.

T-Line • Traders Best Friend

13-days with a T-Line Run (nice job bulls) today will be a big test is we make 14 or do we start a sellers T-Line Run?

****VXX – The VXX is still trying to construct a bottom and getting closer to the downtrend line. Will the downtrend line reject price again or open the gate?

 

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.