VRS Setup and Trade Plan
Today’s Featured Trade Idea is VRS.
Members can join us in Trading Room #1 as Rick reviews the VRSsetup 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.
VRS has been in an uptrend well over a year. The most recent strong bull run lasted more than a month and has culminated in a little profit-taking J-hook pattern that bottomed out on a Morning Star type signal. I will be looking for a b/o and then a bullish move similar to what it has done in the past. Note that there have been a number of 15-20% bullish runs in the last 18 months.
I will look for a b/o Entry with Stop roughly where indicated by V-Stop. At all-time highs, I will use Fibonacci Extension targets of 38.2% and 61.8%.
Trader Vision tells us that earnings are out of the way for a couple months. It also shows us that we have 4 Bullish conditions versus 2 Bearish conditions for this trade setup.
TV20/20 then tells us this trade plan can easily achieve our Trade Goal, well prior to even reaching the 1st Target price. If we do reach that 1st Target, the trade can deliver 12.62% or a 3:1 Reward/Risk. However, if we can sell half there and hold the remainder until the 2nd Target, we’d be getting 4:1 ($648/$162) Reward Risk for almost a 17% trade overall.
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 VRS Trade Setup – As of 9-13-18
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.
[button_2 color=”light-green” align=”center” href=”https://youtu.be/Dy_OB0XQjNA” 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
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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 remain in control.
Bulls remain in control
With Asian markets mostly higher overnight and European markets currently bullish across the board the US Futures are pointing to a gap up open as the bulls remain in control for Friday’s open. The NASDAQ regained a key support yesterday as the DIA and SPY pushed higher and the IWM decided to take a break. If the Futures continue to maintain current prices, the SPY will open very near new record highs once again.
Once again I want to remind everyone to be careful chasing gaps into market highs. Wait for proof that buyers will follow-through after the open. Remember the pop and drops on the 10th and 12th of this week when you think about rushing into a gap open. As always I plan to reduce my risk heading into the weekend and tucking in some of those tasty profits safely into the bank.
On the Calendar
A busy day this Friday on the Economic Calendar. At 8:30 AM Eastern we get both Retail Sales and Import/Export Prices. Consensus expects another solid month with a 4 % gain in August Retail Sales, remove autos, and the call is for a 0.5 percent gain. August import prices expect a 0.1 percent decline while Export prices will increase 0.2 percent according to forecasters. We have a Fed Speaker at 9:00 AM and then Industrial Production at 9:15 AM.
Capacity Utilization is expected to tighten to 78.3 percent with an increase of 0.4 percent in Industrial Production with the manufacturing component also up 0.3 percent in August. At 10:00 AM we will get both Business Inventories and Consumer Sentiment reports. Business inventories expect an increase of 0.5 percent as the underlying sales remain strong and the Consumer Sentiment Index also moves up to 97.0 according to consensus. We wrap up the calendar day with the Baker-Hughes Rig Count at 1:00 PM.
On the Earnings Calendar, we only have five companies reporting with PLAY being the most notable before the bell.
Action Plan
Have you taken some profits this week? If not, Friday is a great day to take some risk off the table before the weekend and tuck it safely away in your account. Futures are pointing to a Bullish open following the lead of European markets that are currently higher across the board and Asian market closing the week mostly higher overnight.
If the market opens where the Futures currently suggests, the SPY will be very close to a new record high. Remember to be careful not to chase the morning gap an continue to be watchful for clues of reversal and of course those nasty whipsaws that have plagued the market all week. I wish you all a fantastic weekend.
Trade Wisely,
Doug
Buyers Lead Week Positive Trading
Buyers Lead Week Positive Trading
The buyers lead the week with positive trading above the T-Line. This past week has been pretty good in the SPY and the market overall, the buyers once again lead the trend up. The SPY’s price action has printed a bullish pattern so far starting with Inverted Hammer on Friday the 7th last week. The buyers have kept the price action positive, and now price is above the T-Line, last Friday price was below the T-Line. The key bullish level for the SPY is $291.48, and the key bearish level is $286.98.
This was a pretty good week for the “Road To Wealth Account.” We tagged the 306% level or $20,680.00. I for one am very happy with the results! Having an understanding of price action and chart patterns and having good trading goals/rules on selling into strength and base hits have been right on target. Remember this account started in January 2018 with $5,100.00.
For more information contact Rick Saddler Here
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Past Performance Is No Guarantee of Future Results
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 does he offer trade recommendations or advice to anyone.
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Cup and Handle PBO Bullish Engulf bullish on GLW over $34.25 with a protective stop about $33.25
Cup and Handle PBO Bullish Engulf
GLW has printed a beautiful Cup and Handle with a PBO Bullish Engulf. The handle, of Cup and Handle, has served as positive bullish consolidation with the last few days printing a bullish pop and drop followed by a Bullish Engulf; I call this a PBO (Pull Back Opportunity). If you want to see a work of art take a look at the weekly chart. I am bullish on GLW over $34.25 with a protective stop about $33.25. Don’t forget to subscribe to my YouTube Channel “See button above.”
Past performance is not indicative of future returns
Good Trading, Rick, and Trading Team
August “Road To Wealth” trading statement posted here Monthly Trading Results
What’s on Rick’s watchlist today? New brokerage statement says 258% increase this year.
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SPY Over T-Line
The SPY closed yesterday with a Doji following a bullish Engulf; we call this two bar pattern a Doji Continuation Pattern. The bulls look as if they have reversed the recent profit-taking pullback. When following price action and Candlesticks it’s so easy to see the changes in a trend. Waiting for the trend reversal to confirm can increase your success probably much more than trying to get in early before the turn. Crazy thinking and most likely the opposite of what most traders think. Maybe this is one reason 90% of all traders fail.
****VXX – Back below the T-Line suggest no fear
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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.
GLW Setup and Trade Plan
Today’s Featured Trade Idea is GLW.
Members can join us in Trading Room #1 as Rick reviews the GLW 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.
GLW has been in an uptrend since late June. After consolidating for a month, the Bulls have stepped back in the last few weeks. On Wed. it printed a Bullish Engulfing signal to test the July high. Above the b/o, there is not much previous overhead price action from the last several years that might prove resistance.
So, I will look for a b/o Entry with a Stop protected by 3 levels of potential Support. I will use Fibonacci Extension targets since there are no S/R levels for at least several years ago.
Trader Vision shows us that we should have 1.5 months until the next earnings. It also tells us this setup has 5 Bullish conditions versus only 1 Bearish condition. (Actually, it should register a Bullish signal, Bull Engulfing, as well, which would make the ratio 6:1.)
TV20/20 shows us that this Trade Plan offers a limited initial risk ($120) with the ability to make 2.65:1 Reward/Risk at the 1st Target price. However, if we can sell half the position there, move the Stop up (to reduce risk) and hold the remainder until that 2nd Target, we would achieve 3.5:1 Reward/Risk ($420/$120). Finally, TV20/20 tells us this plan can achieve our trade goal if GLW reaches $37.17 *+8.53%).
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 GLW Trade Setup – As of 9-12-18
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.
[button_2 color=”light-green” align=”center” href=”https://youtu.be/p9jw-TR0j3s” 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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Whipsaws and head fakes
Whipsaws and head fakes
All bulls have remained in charge holding key support, but those pesky bears have certainly made this week challenging with all the whipsaws and head fakes they have used to muck up the works. I would not expect the bears to give up easily, but the announcement that the US and China will come back to the trade negotiation table may finally inspire the bulls to break for higher ground. Although still, a very dangerous storm with the east coast hurricane downgraded to a category-2 may also help to lift the mood of the market.
Leaving behind some questionable candle patterns in the indexes yesterday we are not out of the woods just yet and have to remain watchful of those nasty intraday whipsaws and head fakes. However, the path higher seems to have fewer obstacles to overcome at the moment. Stay focused and price and always be prepared with a plan to deal with whatever the market tosses at us.
On the Calendar
The potential market-moving CPI report and the weekly Jobless Claims kick off the Economic Calendar at 8:30 AM Eastern. Forecasters expect the CPI to rise 0.3% in August with the overall year-on-year core at 2.3 percent. Consensus expects 210,000 in initial claims coming off a 50-year low as labor demand remains very high. We have a Fed Speaker @ 10:00 AM, Natural Gas report at 10:30, three Bond Announcements @ 11:00 AM, another Fed Speaker at 12:30 PM, a 30-Yr. Bond Auction at 1:00 PM, the Treasury Budget at 2:00 PM, Fed Balance Sheet and Money Supply at 4:30 PM to wrap up the day.
On the Earnings Calendar, we have 33 companies fessing up to their quarterly results. Before the bell, KR is among those reporting, and ADBE is the most notable after the market close today.
Action Plan
With all the gaps and whipsaws and choppy consolidations, this has been a rather challenging week. On the positive side, the indexes have held on key supports but so far have not found the energy to follow-through to the upside. Yesterday it was announced that the US and China could begin another round of trade negotiations. As a result, Asian markets closed higher across the board with the European markets are mixed but mostly higher. Consequently, US Futures are suggesting a bullish open as I write this.
The market continues to prone to intraday whipsaws but perhaps with China tariffs temporarily set aside and the east coast hurricane down to a category-2 storm the bulls can produce a more deliberate effort. While the bears have not shown a lot of strength, they sure have been disruptive, and they will likely not give up easily. We still need to be watchful of head fakes, and whipsaws so stay focused on price and prepared for anything.
Trade Wisely,
Doug
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Growing Your Portfolio With Stocks and Options
In this video, Doug Campbell discusses simplifying your trading, using stock and options for long-term account growth. He also covered how to use Trend and Volatility Stop as a tool to grow your account. Using Heiken-Ashi candles (as a tool for smoothing price movement) to more easily see trend was also discussed.
1 hour 40 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
