Doji Close In The Resistance Zone FREE Swing Trade Ideas

May 24, 2017 by Rick Saddler

Doji Close In The Resistance Zone

(SPY) – Yesterday was the fourth day for higher closes in the SPY and yesterday’s close was a Doji close in the resistance zone of recent highs. Traders around the world are wondering if the Bulls can push price out of the nearly 5-month channel.

On the daily chart yesterday’s Doji closed above the T-Line and the upper T-Line Band, the 30-minuite chart is showing a slight pull back into the caution zone of the band and a huge warning below $239.70

Free Trade Idea – SGMO

SGMO Has been trending up and broke out on May 11, 2017. Since the breakout SGMO has consolidated holding its ground at the T-Line and above the band. Yesterday’s Bullish Engulf coming off volatility support could be the clue we need to put a plan in place.

Plan your trade and trade your plan, how many times have you heard this?

Did You Know

IAC closed yesterday up 36% from the April 5th post we made to our subscribers? Did you get your slice of the pie?

100 shares on IAC was worth $2750 yesterday

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your education. Start small and learn

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What is a Trade Idea Watch List?

A trade idea watch list 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.

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is not 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 advise to anyone except for the trading desk of Hit and Run Candlesticks Inc.

Bullishness or complacency. You decide.

May 24, 2017 by Doug Campbell

Bullishness or complacency. You decide.

Do you believe the market is truly bullish or is this complacency? The Bulls have done a remarkable job in this rally but do they have the energy to break through resistance? The VIX suggests there is virtually no fear in this market. Could it be complacency? If I knew the answer to that, I would soon be very rich! Sadly I’m not able to see a future outcome. Thus I have to be prepared for anything. We have a three day weekend ahead of us, and in my opinion, uncertainty abounds. Have a plan. Don’t be like sheep, blindly strolling into danger just because others might be doing so. My recommendation is to be very cautious right now.

On the Calendar

Wednesday’s Economic Calendar starts off with Existing Home Sales at 10:00 AM Eastern. Home prices have been rising and days on the market have been falling this year. The numbers would suggest the economy is strong but also hints of inflationary factors heating up. At 10:30 we have the Petroleum Status Report. Efforts to lower supplies seem to have finally started to work, however, if there is an increase we can expect a negative market effect.

The big news of the day will be the FOMC minutes at 2:00 PM. With Fed members speaking almost every day I can’t imagine we will learn anything new, but they will make a drama out of it never the less. CNBC will play their most dramatic bumper music, and the talking heads will ramp up the emotion before and after the release.

Action Plan

You may have missed it, but there were some big news events overnight. The most important; Moody’s downgrade the credit rating of China do to their rapidly growing and massive debt. As of now, the markets have shrugged it off as if nothing happened. Personally, I think this is another clue of complacency and maybe a warning of troubles ahead.

I recommended caution yesterday and maintain the same stance today. A long as the market continues to test price resistance but shows the inability to breakthrough it I will remain cautious. For me, that means I will continue to trade long but will limit the number and size of my trades. I will be very picky on the trades I take and will have exit plans ready to execute on any clues of failure. Go Bulls!

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

Trade Wisely,

Doug

Plenty Bullish Charts With Solid Bullish Continuation Patterns FREE Swing Trade Ideas

May 23, 2017 by Rick Saddler

Plenty Bullish Charts With Solid Bullish Continuation Patterns

(SPY) – One thing is for sure; there are plenty bullish charts with solid bullish continuation patterns. RBB’s, mini cups and Handles, Flags, PBO’s, trends with pull back to support

Price action has rallied back above the T-Line and the upper T-Line Band. Bulls seem determined to keep the price from dropping. Between today, Wednesday of Thursday we should see a pullback to retest some of the recent 3-day moves.

FREE TRADE IDEA – SYNT

SYNT has walked into one of our RBB traps. And now above the lower resistance. Price is forming a POP out of the box price formation on the 1, 2, and 3-day charts. The dotted deuce and the deuce are overhead.

Take a look at the 2 and 3-day chart too, they can be very helpful. A tonight’s training workshop ask me about one of my tricks to managing a chart once in it.

Did You Know

AAOI was a members trade idea on May 5? The trade was simple, recognize the breakout, buy the Doji Continuation pattern. Set your stop and let the chart work.

100 Shares and you would be up $1528 at yesterday’s close

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your education. Start small and learn

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Would you like to learn – How to find the charts to trade that create a second income?
Would you like to learn – How to manage trades for $100, $250, $500, a week?
Would you like to do this just a few hours a day?

Hit and Run Candlesticks can help you with this for $70.83 per month / 3 months $212.50 / $212.50 to learn something you get to keep, something that could change your live forever.

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What is a Trade Idea Watch List?

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

Is your bullish confidence stronger than your tolerance for risk?

May 23, 2017 by Doug Campbell

Is your bullish confidence stronger than your tolerance for risk?

Is your confidence in this rally enough to risk capital at resistance? The recovery from last Wednesday’s selloff has been impressive, but let’s keep the overall price pattern in mind. Price resistance is still price resistance and the uncertainty that created the selloff as not changed. Could the Bulls just plow right through to new highs? Obviously, the answer to that question is yes; resistance is not forever or unbreakable. However, the question we as traders have to grapple with is, how confident are you in the strength of the market at resistance?

One the Calendar

On the Economic Calendar, today is the PMI Composite at 9:45 AM Eastern follow by New Home Sales numbers at 10 AM. Both reports have the potential to move the market, and both are indicators as to the health of your economy. They have been tracking positive, but New Home Sale are leading the way with very strong results. On the Earnings Calendar, we have 41 companies reporting today. INTU is the big tech reporting after the bell today. Keep an eye on a couple of the room favorites MOMO reporting before the bell and TTWO reporting after the close.

Action Plan

At the risk of sounding like a broken record, I want to remain cautious when adding new risk. As you know, I’m currently long eight positions and want to avoid adding risk as the market tests resistance levels. Having said that there are a lot of good looking charts so if you decide to trade so be choosy. Markets can reverse very quickly at resistance so look for low-risk entries and consider smaller than normal positions.

Futures are suggesting another positive open. One of the things I always watch for when the market is testing resistance and the futures are pointing up is the whipsaw. Please understand I am not predicting that a whipsaw will occur. I am only pointing out that this is the perfect place for them to occur. The good news is whipsaw price action will usually show itself within the first 30 minutes of trading. Avoid rushing in at the open, and you can often avoid the whipsaw.

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

Trade Wisely,

Doug

Price Resistance, Who will prevail?

May 22, 2017 by Doug Campbell

Price Resistance, Who will prevail?

Price resistance is the battle line of the Bulls and Bears. If the market is trending and holds above price supports, I always give the benefit of the doubt to the Bulls when challenging resistance. The selloff last Wednesday sliced right through and broke price support like a hot knife through butter. The rally into the end of last week brought us right back test resistance levels. Believe me, I want to see this market break higher, but because support broke, I have to give the Bears the edge at resistance. I will remain very cautious when it comes to adding new risk at this level. If I do decide to take any long positions, they will smaller than normal due to the higher perceived risk.

On the Calendar

Monday kicks off with no reports on the Economic Calendar but a total of 6 Fed speakers that feel the need to pontificate on interest rates. It would appear they have a lot to talk about because tey will be talking every day this week. We also must keep in mind that with the President traveling any news suggesting success or failure on this part could potentially move the market. On the Earnings Calendar, we have 41 companies reporting today.

Action Plan

It was nice to have the relief of the rally last Thursday and Friday. However, it is important that we notice the major indexes are right back into resistance zones. The Bears have had plenty of time to dig in and reinforce their battle line trenches, and I would doubt they that they will give them up easily. As for me, I want to manage the positions that I’m currently holding but remain very cautious on adding new risk.

I, like everyone else, would love to see the market move higher. If I remove my rose colored glasses just for a moment, I see that price is in the perfect location for a reversal. Please understand I am not suggesting that is what will happen! I am only pointing to the potential danger and the reason I won’t be in a hurry to add risk. I will happily change my thinking if the Bulls find the energy to overrun the Bears defenses.

[button_2 color=”green” align=”center” href=”https://youtu.be/PcVe1epYz5I”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

Price and The T-Line Close Below The 20-SMA FREE Swing Trade Idea

May 22, 2017 by Rick Saddler

Price and The T-Line Close Below The 20-SMA

(SPY) – Proceed with caution with price and the T-Line close below the 20-SMA. Price and the T-Line below the 20-SMA is a warning sign. It is true the Bulls brought price from $236.77 to close Friday at $238.31 an increase of $1.54, but they also brought price to the resistance line where the Bears will try defend what’s there’s. With Friday’s closing price below the T-Line and the T-Line below the 20-SMA, the sellers have an edge unless the Buyers can push and close the price above $239 at the bare minimum.

FREE TRADE IDEA – NSU

NSU became a Rounded Bottom Breakout chart pattern Friday when it closed over the 50-SMA. Price gaped Friday from consolidation and a Bullish Harami. The 2-day chart has printed a Bullish Hammer and the weekly chart has a Bullish Engulf, Engulfing the Hammer.

The Pop Out of The Box Workshop has three remaining packages left at the 15% discount. Tomorrow we will be putting them back on the shelf with the $247.00 price.

Did You Know

SSYS was a members trade idea on April 12, 2017? SSYS rallied 45% before the pullback.

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your education. Start small and learn

[button_2 color=”orange” align=”center” href=”https://hitandruncandlesticks.com/pop-out-of-the-box-workshop-combo/” new_window=”Y”]Pop Out of The Box 15% Discount Ends Tomorrow | Only 3 Packages Remain at the 15% Dicount[/button_2]

What is a Trade Idea Watch List?

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