MDXG – Breakout From Consolidation

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MDXG – Breakout From Consolidation

MDXG – Breakout from consolidation, after 3 months of consolidation MDXG broke out on strong volume. Support and Resistance held price captive but now looks Bullish. We are Bullish with price above $15.80

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

No new trades yesterday, still holding 1/2 SGMO for a 17% gain – adjusted stop to protect more of the profits.

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.

 

► CROX would be up 18.57 or $148.00 if you bought 100 shares when we posted to our members on July 26. 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)

The lack of follow through above our $247.25 resistance line suggest the Bulls just aren’t ready to take on the resistance, which begs the question will they be ready before a test near the lower trend line.

I am very concerned about the price action of the ETF (IWM). The chart continues to signs of weakness and could drag us into a correction below the 200-SMA.

► 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.

 

Trade Alert 8-15-17

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[images style=”0″ image=”https%3A%2F%2Fhitandruncandlesticks.com%2Fwp-content%2Fuploads%2F2017%2F08%2FEmail-Globe-Header-1.png” width=”1200″ align=”center” top_margin=”0″ full_width=”Y”]

A new trade alert for a directional trade in X for your evaluation and consideration.  Due to the condition of the market, I suggest trading it small if you do decide to trade.

[button_2 color=”green” align=”center” href=”https://hitandruncandlesticks.sharefile.com/d-sf21c5d863f34d7f9″]Trade Alert video[/button_2] [button_2 color=”blue” align=”center” href=”https://hitandruncandlesticks.sharefile.com/d-s311a6be503a427fb”]Trade Details Sheet[/button_2]

 

 

Will resistance hold or break?

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Will resistance hold or break?

resistanceYesterday’s bullish move looks as if it will be followed by another gap up bring the both SPY, QQQ’s right back to last weeks resistance.  The question is, will resistance hold, stopping the Bulls advance or will it break?  To say the least, this kind of price action is tough to trade, and what makes it worse it’s dripping with emotion and drama.  There is an old saying that, Fortune favors the bold.  For some that’s true, but history rarely writes catchy sayings for those that lost their heads during their bold attempts.  Keep in mind it’s not necessary to trade every day to be successful.  Choose your battles wisely.

On the Calendar

We begin Tuesday with the biggest report of the day on the Economic Calendar at 8:30 AM Eastern.  Retail Sales number have disappointed all year but today consensus expectations for today are looking for a 0.3% vs. the 0.2% decline last reading.  Also at 8:30 we will hear from the Empire State Mfg. Survey and Import/Export Prices.  Consensus for the manufacturing number is to remain steady at 9.8. Import/Export prices are expected to increase by 0.1% vs. the 2% decline last month.  At 10:00 AM both Business Inventories and Housing Market Index release results.  Forecasters are calling for 0.4% gain in June for Business Inventories and a 65 reading in the Housing Index.  The Treasury International Capital number rounds out the day at 4:00 PM.

On the Earning Calendar, there are more than 30 companies reporting today.  Retail numbers will be the theme most of this week.  Home Depot reported very early this morning beating both the top and bottom line as same store sales increased, but as of now, investors seem unimpressed.

Action Plan

The Bulls made a strong showing yesterday gapping the market higher and managing to hold it above the gap all day.  Currently, it would seem the Bulls would like a repeat performance with the Dow futures suggesting another gap up of nearly 50 points.  That brings the SPY and the QQQ’s right back up into the congestion zone they were having trouble with as the Dow pushed higher just a week ago.  If you’re confused as to what to do, you’re not alone.  Price action such of this is very difficult to trade.  Traders that step in boldly might get richly rewarded however they may just as easily punished for chasing into price resistance.  Tough decisions to be sure.

Over all trends continue to be up so to follow my rules and trade with the direction of the market I will be looking for long trades.  However, I will not rush in after another gap.  I will wait and watch and enter only if the timing is right and the price action confirms.

[button_2 color=”green” align=”center” href=”https://youtu.be/J5GupuuqpSA”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

INAP – Printed A Bullish Harami On Support

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INAP – Printed A Bullish Harami On Support

INAP – Printed A Bullish Harami On SupportINAP – Printed a Bullish Harami on support after a breakout run then a pullback creating a PBO (Pull Back Opportunity). Major moving averages such as the 20-SMA , 34-ema, 50-SMA are rising with price. On a 5-day chart, INAP is a Rounded Bottom Breakout consolidating on the Dotted Deuce line.

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

No new trades yesterday BUT we did close ½ of the SGMO position for a 24.43% gain.

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.

 

► HIIQ is up 51.83$% from our members post on May 31. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Support, and Resistance.

 

Eyes On The Market (SPY)

The Bulls proudly bounced back yesterday closing back over the T-Line printing a Bullish Harami on the 2-day chart. Price also closed headed into resistance and  $247.25 may cause the Bull a little grief. A good Bull chart would be a pullback to a higher low than a breakout out of the previous high.

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.

 

Big gaps, high emotion- A dangerous combo.

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Big gaps, high emotion – A dangerous combo.

Big gaps, high emotionThe sell off last week spiked the VIX more than 65% suggesting elevated volatility and challenging price action ahead.  A Monday morning professional gap up of nearly 100 points only increases trader emotions.  For years I made the mistake of getting caught up in the drama of this kind of price action.  I would chase it down and chase up thinking I was missing a big opportunity to make money.  After years of poor results, I finally wised up and realized that often less is more.

What I mean by that is commonly traders get caught up in the idea if the market is open then they have to be trading.  That is just not true!  The best traders in the world watch and wait much like a sniper patiently for one shot.  I found that if I could avoid the drama, watch, wait and plan I traded less but made a lot more money.  My win/loss ratio went way up, and my trading account started to grow rather than the endless Yo-Yoing I had been experiencing.  When the markets become volatile, it is easy to over trade and get caught up in the drama.  Not every day is a good day to trade if you want to maintain your edge.  Always remember sometimes less is more!

On the Calendar

The Economic Calendar decided to extend the weekend by largely taking Monday off.  Other than a bill announcement and a couple of bill auctions there is nothing on the calendar today.

Today is the last big earnings day for this quarter with about 220 companies reporting results.  Earnings have been a major source of inspiration for the bulls this quarter.  I will be interesting to see how the market responds as that energy supply begins to burn out.

Action Plan

As anticipated, the Korean worries prevented the Bulls from mounting a rally on Friday.  The good news is that the Bears were also unsure about the weekend and most of them seemed to join the Bulls in taking the day off.  Only the QQQ managed to end the day with a respectable defense of the 50-day moving average while the SPY closed below the 50 for the 2nd day in a row.  With the threat to the weekend now past the Dow Futures are currently pointing to a huge gap up open of nearly 100 points.

Although the gap up this morning is not that surprising, it’s also something that I don’t want to chase.  Keeping in mind the overall price pattern the morning gap up will still be under significant price resistance on the SPY, QQQ, and IWM.   Always keep in mind that a gap up the perfect setup for a pop and drop or whipsaw price action.  I refuse to chase, so I will be standing aside for 20 to 30 minutes allowing the price action develop.  If the Bulls step in supporting the gap with actual buying then and only then will I consider new long positions.  Until that time I will carefully manage the positions that I held over the weekend that hopefully will benefit from the bullish open today.

[button_2 color=”green” align=”center” href=”https://youtu.be/76ZRvlXN1X8″]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

SPPI – Printed A Bullish Engulf

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SPPI – Printed A Bullish Engulf

SPPI – Printed A Bullish EngulfSPPI – Printed a Bullish Engulf after a breakout gap and a few days of consolidation.  A Bullish Cup and Handle has formed with the major moving averages trending in the right direction. The recent lows are above the T-Line, and the 3-day Doji Continuation pattern is Bullish. Plan your trade and trade your plan.

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

Today our plan will manage the positions we have and work on the watch-list. We may or may not buy or short; it will depend on how price acts at resistance. Remember you don’t have to buy a stock every day, proper management of your positions owned is the most important job.

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.

 

► WTW is up 36.11% from our members post on July 10 and crawled another .82% Friday.

Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Support, and Resistance.

Eyes On The Market (SPY)

It looks like the Bulls are mounting a bounce today after last week’s panic selloff. The bounce could be real and have follow-through over the next few days or could simply be a relief rally. The futures are suggesting the bounce is up to resistance, so one must wonder can the Bulls push through resistance? And I suspect a constructive bottom needs to be printed.

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.