IDXG – Pullback (PBO) Bullish Engulf

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IDXG – Pullback (PBO) Bullish Engulf

IDXG – Pullback (PBO) Bullish EngulfIDXG – Has presented a Pullback (PBO) Bullish Engulf yesterday after a strong rally into the Rounded Bottom Breakout strategy. The recent price action has rallied above the recently constructed bottom and our big 3 moving averages. The T-Line is above its highest 20-day high. A (PBO) is when stock rallies and prints a candlestick buy signal within the pullback. (Note we posted IDXG in StockTwits.com before the Bullish Engulf was finished and before we bought it. Look for Hit and Run Candlesticks and Right Way Options on StockTwits.com

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Trade Updates – Hit and Run Candlesticks

We picked up two more longs yesterday (IDXG) and (MDXG) they both started to act very positively.

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

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► TECK – You would be up 22.14% or $431.00

If you bought 100 shares when we posted to our members on July 24. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support,

and Resistance.

 

► Eyes On The Market (SPY) 

Yesterday we mentioned that the SPY might be ready to bounce a little as it kept trying to form a little Hammer. At this point, there is not any kind of reversal pattern so right now we can only see a possible short term relief rally. Careful not to get sucked into the bullish tunnel without the clues.

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here

 

Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

 

 

 

 

The Bears have their nose in the door.

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The Bears have their nose in the door.

The Bears have their nose in the doorWith the follow through selling on Friday, it would appear the Bears have their nose in the door and smell a tasty opportunity.  The Bulls will have their work cut out for them with the significant technical damage that has now occurred in three of the major indexes.  A short-term oversold condition exists, and a bullish bounce is likely to begin soon.  However, I would not assume the down trend is over.  Any bounce or rally back to resistance could set up more selling.  If you do decide to trade, keep that in mind as you plan the position.  Technical damage such as this not likely to be repaired quickly.  There is no rush.  Wait for a defensible entry with solid evidence that the bulls are regaining control before risking your hard-earned money!

On the Calendar

It looks as if the Economic Calendar has decided to take most of the day off to watch the eclipse.  At 8:30 AM Eastern there is a single report from Chicago Fed National Activity Index.  As a general rule, this report will not move the market.  Other than that we have a bill announcement and a couple of bill auctions wrapping up the day.

On the Earnings Calendar, we have just over 50 companies reporting earnings today.  Scanning through the list, I don’t see any that would be market moving reports.  However, it is always wise to make sure are checking your current holdings and those you are considering to trade.  It only takes a couple of minutes but could save you thousands in trading capital.

Action Plan

Friday was a tough day for the traders that jumped in on Thursday trying to buy the dip.  While the DIA managed to hold on to the 50-Day SMA, the SPY and the QQQ’s both closed below.  Technically the QQQ’s are in better shape than the SPY having managed to close just above the low on the 10th.   The SPY is now technically in a downtrend and a candidate for a Blue Ice Failure pattern after a brief rally.  The IWM is by far the weakest of the indexes closing well below the 200-day average, however, holding onto a major price support built over the last ten months of trading.

I was quite content with my decision to stand aside on Friday.  As I will be gone shortly after the open to meet with a group of astronomical scientists to study the eclipse, I will not be trading today either.  Although the futures were negative all night long, they are now suggesting a flat open.  Personally, I believe that the indexes are currently over sold in the very short-term.  A bounce or relief rally could begin at any time, but please don’t interpret that as an invitation to buy the dip blindly.  There is a lot of technical damage in the SPY, QQQ, and IWM.  Any bounce or rally may serve to attract more Bears so be very careful.  Also, keep in mind much of the US will be out observing the eclipse today.  I would not be surprised if the volume was light and the price action was choppy most of the day.

[button_2 color=”green” align=”center” href=”https://youtu.be/Semq3_wtAF4″]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

SPXU – Doji Continuation Pattern

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SPXU – Doji Continuation Pattern

SPXU – Doji Continuation PatternSPXU – Closed Friday with a Doji Continuation Pattern, we have found this pattern to be very successful when you add other conditions with it. Such as a breakout of the downtrend line, bottoming patterns like a double bottom or a higher low. 2 or 3-day charts with a Bullish Engulfs. And SPXU is now one of our Rounded Bottom Breakout patterns/strategies. Keep in mind most charts don’t work right away unless you only want 1,2,3% gains and I have never met anyone who makes a living on 1,2,3%  We want to profit more…don’t you?

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

 

Trade Updates – Hit and Run Candlesticks

A good trader knows when to back down, lighten up on position, except the fact some days you are better off not to trade, did you know you don’t have to trade everyday? A good trader knows a $100.00 loss can be good – especially when you finally take the loss and now it’s a $500.00 loss. We are proudly in only 3 positions and in NO HURRY to trade until this craziness has stopped. Plan your trading strategy to win!

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

► KITE – You would be up 23.48% or $2475.00

If you bought 100 shares when we posted to our members on July 20. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, and Resistance.

 

► Eyes On The Market (SPY) Warning

The SPY has broken below the support line holding the lows together and has formed a Bearish “h” pattern. With Fridays close, we have a lower high and a lower low and a Bearish Doji Continuation pattern setup. When you add the short-term oversold, we could see a relief bounce. We see both long and short trade with a ton of chop, keep your fingers away from the blade.

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here

 

Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

 

Long Watch List For Next Week

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Long Watch List For Next Week

 Long Watch List For Next WeekWeek starting Monday, August 21, 2017. Hi, this is Rick Saddler, founder of Hit and Run Candlesticks. Below I have posted 35 stocks that I will be watching for a long trade if the correct setup and market conditions warrant Starting Monday August 21, 2017. We always make a plan and trade the plan; our trade plans are not secret we share them with anyone in the trading room or the Tuesday night webinars.

 

 

We do not expect all stocks on the watch list to work out; this is why we work very hard to teach how to enter and exit a trade with proper trade management.

PS… I will be one of the speakers in Chicago at the Chicago Board of Trade Building September 27 – 29, 2017 Hope to see you there.

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Everyday we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Private Trade Coach

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

 

►Sunday, August 20, 2017, Long Watch List

This list is compiled of long charts we also have a short and an Inverted ETF list when needed. You should never take a trade without a plan and the proper education.

Symbols from TC2000

CTRL

GLUU

MNKD

HDP

MYGN

KITE

WTW

MDXG

MTOR

XEC

NRG

OPHT

TRIP

WB

FIZZ

COL

HZNP

TTWO

ALRM

ISRG

XBIT

TECK

NEE

MNST

QHC

MTN

PGR

TSS

WUBA

PNM

APRI

CERS

OMED

IDXG

ZOES

 

Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

 

E-Learning – Spreads – Find Them and Trade Them Video Replay

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[images style=”0″ image=”https%3A%2F%2Fhitandruncandlesticks.com%2Fwp-content%2Fuploads%2F2017%2F08%2FCredit-Spreads-Pic-1.png” width=”965″ align=”center” top_margin=”0″ full_width=”Y”] [button_2 color=”green” align=”center” href=”https://hitandruncandlesticks.sharefile.com/d-s41a05c306f34417a”]Spreads – Find Them and Trade Them Video Replay[/button_2]

 

 

The Bears create technical damage.

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The Bears create technical damage.

Sadtechnical damagely the price action concerns that I mentioned yesterday came to fruition as the Bears won the battle at resistance.  This time there was significant technical damage was created the in the index charts.  It may turn out to be nothing more than another round of market jitters but to ignore it is unwise.  The mantra for the last few years has been “Buy the Dip.”  However technical damage such as this normally takes at least several weeks to resolve.  We can now expect more volatility and challenging price action going forward.  Plan accordingly.

On the Calendar

We have a very light Economic Calendar this Friday.  At 10:00 AM Eastern we get the latest reading on Consumer Sentiment.  Although Consumer Confidence has been running near 20-year highs, Consumer Sentiment has been drifting lower.  The consensus is expecting a slight rebound to 94.0 vs. the last reading at 93.4.  Shortly after at 10:15 AM we have a Fed Speaker to round out the week.

On the Earnings Calendar we just over ten companies reporting today.  One of the biggest today will come from DE that reports before the bell.  Retailers EL and FL are also slated to report before the open today.  Although earnings season is winding down, it’s very important to make checking earnings report dates on the companies you hold and are thinking of buying.  Failing to do so can quickly damage an account.

Action Plan

Raising my caution level based on the price action served me well yesterday as the Bears won the first battle at resistance.  Yesterday the DIA broke and closed below the strong uptrend that it has enjoyed for several months.  Tremendous technical damage in the SPY was created yesterday breaking down below the prior low and closing well below the 50-day average.  The QQQ’s also suffered damage but managed to hold above the last low and the overall up trend closing at the 50-day average.  The poor IWM not only made a new low in its current downtrend but also sliced right through the 200-day average as if it was not even there.

With so much technical damage ahead of the weekend I will most likely stand aside today.  As you know, I always try to trade with the overall trend.  There are now sufficient clues that the up trend may falter, so I will begin putting together a watch-list of down trending stocks.  If you happen to be a long only trader, it is now time to curtail your trading activity.  Repairing technical damage will normally require several weeks of trading during which time volatility will likely be elevated making it very challenging even for the most experienced traders.  Please protect your accounts and realize you don’t have to trade every day to be a profitable trader.

[button_2 color=”green” align=”center” href=”https://youtu.be/5epadPTFvrQ”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

Personal Trade Plan Is Essential To Trading Wealth

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Personal Trade Plan Is Essential To Trading Wealth

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(It’s Friday) A personal trade plan is essential to trading wealth and Fridays are a good day to evaluate your trade plan. Do you have a 12-month goal? Do you know how much per trade, per week so you need to meet the 12-month goal? Do you know what trade set ups are best for you? We have found from our coaching that those that live by a trade plan profit more money and have a much higher success rate of increasing their wealth.

Friday is the day we count our money and reflect on our weeks trading. How did we do? How can we improve? Take time today to pause on trading and consider education. Reevaluate your trading goals, are your goals on track?

Good Trading – Hit and Run Candlesticks

 

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

 

►Trade  Updates – Hit and Run Candlesticks

What a crazy week! We are still holding our shorts and 1 long. I can’t remember the last time I was only in 3 positions. It is a good feeling going into the weekend.

We have closed 31 positions in the past 31-days and a 55.17% win rate. Over the past 180 days, we are running a 68.91% win rate.

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

►Eyes on The Market

In Thursdays pre-market blog we warned everyone and WOW! The Bear really woke up. Yesterday we closed below the 50-SMA in a big way, so I suspect we see some kind of relief rally. I do believe this is going to hurt and there will be more downside and of course there will be minor rallies. There is no shame in sitting on your hands until this market cools down. And cash is a position

►What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here

 

Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.