Both T-Line bands below the 50-sma with a Bearish Engulf FREE Swing Trade Idea

April 20, 2017 by Rick Saddler

Both T-Line bands below the 50-sma with a Bearish Engulf

From a Bull’s Eye – SPY:

Both T-Line bands below the 50-sma with a Bearish Engulf, this is just another tell-tell sign the bears outnumber the Bulls. The SPY closed down .43 cents or .18% at $233.44, and the most recent low is $232.51

One of the factors in the SPY (market) being weak yesterday may have been because of oil dropping. USO – United States Oil Fund fell through its 200-sma on heavy volume after learning what resistance is all about at $11.26. Based on the USO chart I see price heading to about $10.25 and possibly lower.

FREE Trade Idea – ADHD

ADHD – A Rounded Bottom Breakout Strategy, that pulled back to a higher low with a Doji and a Hammer. Closed yesterday back over the RBB trigger. The past 6 days also formed a Bullish Rising pattern.

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Spotlight Trade – X (short)

X has dropped 12.93% from the time we mentioned it to our members as a possible short trade idea. After we had posted X as a short trade, it traded back up to the upper T-Line Band where failed and broke below the lower band. Where it now sits on the 200-sma. The X short trade is a perfect example of the Blue Ice Failure and the Bearish “h” pattern

Blue Ice Failure Pattern

Imagine someone falling through the ice, then trying to come back up to the hole they plunged through. On their way up, they bump up against the ice and then fall back down again. This is the analogy behind the Blue Ice Failure Pattern (a term coined by David Elliott).

In stock charting terminology, the Blue Ice is the blue colored 50-day simple moving average (50 SMA) and price is the subject taking the plunge. More specifically, price is falling, it approaches the 50 SMA and plunges down through it. Price finds support after the plunge and starts to rally toward the 50 SMA. Price reaches the 50 SMA area and tries to break up through it but bumps up against it and then falls back down again.

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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

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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 30 days for example.

From that watchlist, we wait until price action meets our conditions for a trade.

© 2007 – 2017 Hit & Run Candlesticks INC. – Right Way Options – Strategic Swing Trade Service – Trader Vision – All Rights Reserved. Terms of Service Investing and Trading involves significant financial risk and is not suitable for everyone. No communication from Rick Saddler, Doug Campbell or this website is not financial or trading advice. All information is intended for Educational Purposes Only.

Uncertainty fuels the price action to another day of losses. Posted 7:58 AM EDT 4-20-17

April 20, 2017 by Doug Campbell

Uncertainty fuels the price action to another day of losses.

The short-term price action rally was only able to hold out for a brief time yesterday. The Bulls had a short-lived spurt of energy but once GS started to turn back down everything followed. Okay, enough of the past, where do we go from here? I would like to think we are due for an oversold rally. However, as of now, there is nothing in the charts to suggest that.

Earnings reports have the potential to dig us out of this hole, but if another bell weather like GS or IBM disappoints the Bulls may give up the battle. After the bell yesterday we had a good round of reports, and so far this morning the results have lifted the futures. The big question is will it be enough energy to break resistance? I think we will need to see a media darling company like Amazon or Facebook blowing the doors off of expectations to make that happen.

On the Calendar

Right out of the gate this morning we have a Fed speaker on the Economic Calendar at 8 AM Eastern. Two potential market-moving reports, Jobless Claims and the Philly Fed Survey at 8:30 AM. The jobless number would most likely have to be a big surprise to move the market. As a result, the Philly Fed number is the one to watch this morning.

Plan of Action

My plan for the day is simple. Maintain my current positions and carefully watch for clues of a bounce. Why a bounce? The overall market has been in decline for more than a month. I, of course, could easily be wrong but I think a relief rally could begin at any time. Keep in mind there is not a thing in the charts currently suggesting that! Also, know I will wait for evidence of a rally before adding long risk to my account. My rules require that I only take short positions at or near resistance, not at new lows. Waiting is hard but its better than buying up puts or trying to short at market lows.

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Trade wisely,

Doug

P.S. our new phone App has already been downloaded in 15 countries. Thank you! Rick and I hope you find it a really nice, value added, addition to your service.

Is it time for a relief rally? Posted at 8:12 AM EDT 4-19-17

April 19, 2017 by Doug Campbell

Is it time for a relief rally? The short term price suggests a possibility exists.

A relief rally may be in order, but there are several factors that could stop it dead in its tracks. The short term price action seems to suggest a small rally. However, let me be very clear. A short-term signal is only good for a very short-term. As the market moves toward the open and companies, report earning before the bell anything is possible. Please keep in mind that all the major indexes are still below daily price supports!

I know it’s hard to get daily bearish market readings because we all want the market to start moving back up. As a result, our bias for bullishness gets in the way of reading the chart. The opposite can also be true. After having a bearish opinion for such a long time, it is very easy not to see bullishness. The fifteen-minute charts of the SPY, IWM, QQQ and now the DIA are now showing a tiny trend.

Tiny trends are not much to hang your hat on, but at least it’s a sign the Bulls may be willing to fight back. This morning Black Rock, the massive ETF firm, blew away earnings estimates. The also reported huge inflows last quarter. I have mentioned that it’s the little things that make a difference. I have to confess when I see huge inflows into ETF’s it bolsters my confidence in the overall market. The problem is that’s not all w have to consider.

Stumbling Blocks

With all the saber rattling, foreign elections, upcoming budget battle in the US, there are a lot of stumbling blocks for the Bulls. That’s Not to mention all the possible obstacles that earnings season presents. With so much up in the air I think we should prepare for higher volatility in the weeks ahead. For me, that usually means trading smaller positions. I also want to prepare trading plans that take profits faster with volatile price action.

On the Calendar

First up on the Economic Calendar is one of those big stumbling blocks, the Petroleum Status report. If the number shows a big build in supply, the Bears could be emboldened. On the other hand, a decline in supply may be just what the Bulls need to break the downtrend. Keep and eye on that number at 10:30 AM Eastern time. At 12:30 PM have another Fed speaker follow by the Beige Book at 2:00 PM. Both are unlikely to move the market.

Action Plan

My plan for today is to remain cautious. The short term rally is encouraging but defeating the longer term resistance the Bulls step up in a big way. Earnings could provide them with the energy to do so, but any stumble and the Bears will remain in charge. For new traders, it remains a very tough time. Please protect your capital until we have clear signals that the downtrend breaks.

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Trade wisely,

Doug

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Yesterday’s Doji Represents the Indecision We All Have FREE Swing Trade Ideas

April 19, 2017 by Rick Saddler

Yesterday’s Doji Represents the Indecision We All Have

From a Bull’s Eye – SPY:

The price action of the Doji Yesterday Represents the Indecision we all have in this market lately.

An inside day Doji was painted yesterday on the SPY chart closed down .70 cents or .30%. For the most part, nothing changed. Our moving average intraday strategy suggests the Bear is ahead of the Bull. Our moving average strategy includes the T-Line, 34-ema, and 50-sma 200-SMA and the Dotted Deuce.

Resistance can become support; current near-term resistance is $235.25 and $236.45

FREE Trade Idea – SABR

SABR – A Rounded Bottom Breakout Strategy painted a Doji on Monday and a Bullish Engulf on Tuesday. You see more information on our Trader Vission Trade Plan. Plan your trade for success and trade your plan.

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Spotlight Trade – SSYS

SSYS has risen 12.65% from the time we mentioned it to our members as a possible trade idea. Candlestick patterns, chart patterns, price action support and resistance and simple logic, is what we look for in a chart.

(RBB) Rounded Bottom Breakout

Although we’ve discussed Dragonfly and Gravestone doji in the past, we never got around to explaining the simplest of all candlestick patterns: the basic doji, sometimes referred to as a “Doji Star.” The doji candlestick pattern is formed with one candlestick, and it is incredibly common. Although there are several different types of doji (such as the Gravestone, the Dragonfly, and the Long-Legged), which we will describe briefly, today we’re focusing on the classic, original doji. To learn how to identify this informative candlestick pattern and interpret its presence, simply scroll down. Learn More About the Doji

Members Trade Ideas Below

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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 30 days for example.

From that watch-list, we wait until price action meets our conditions for a trade.
© 2007 – 2017 Hit & Run Candlesticks INC. – Right Way Options – Strategic Swing Trade Service – Trader Vision – All Rights Reserved. Terms of Service Investing and Trading involves significant financial risk and is not suitable for everyone. No communication from Rick Saddler, Doug Campbell or this website is not financial or trading advice. All information is intended for Educational Purposes Only.

Confused about which way to Trade Today Free Swing Trade Ideas

April 18, 2017 by Rick Saddler

Confused about which way to Trade Today?

From a Bull’s Eye – SPY:

Are you confused about which way to trade today or the market direction? Are politics and unknown world events confusing you about trading day-to-day? What do I do when the market is week and yesterday’s price action shows strength.

The simple answer is just to look at the charts. So let’s take a look at the SPY chart, yesterday’s open was above the previous low and yesterday closed was above the previous candle and high. At the end of the day, the SBY closed up $2.06 or .89% that’s a good sign for the Bulls at least for that day.

As as a swing trader was looking for price to swing higher, therefore, we must be concerned about resistance and what lies overhead. For example on the daily chart price has moved below the 50-day simple moving average and has not crossed back above it. Also, the T-Line is below the 34 exponential moving average on the daily chart. Starting with the March 1 close, you can see the down resistance line pointing out the failed highs. Three intraday charts that I watch closely in times of confusion is the 30-minute, 60-minutes, and 2-hour charts. On all three the SPY has moved below the 200-period moving average.

All the above factors are what I would take into consideration when looking at the SPY chart. In my humble opinion price can certainly go higher but the BULLS must get through the resistant hurdles mentioned above.

My conclusion is simply to wait for confirmation.

FREE Trade Idea – BANC

BANC has recently moved over the 200-period M/A and above the left shoulder of a Head and Shoulder pattern. Price has broke out of the most recent consolidation and showing signs of bullish movement.

Spotlight Trade – SHLD

SHLD has risen 53.77% from the time we mentioned it to our members as a possible trade idea. Candlestick patterns, chart patterns, price action support and resistance and simple logic, is what we look for in a chart.

(RBB) Rounded Bottom Breakout

The Rounded Bottom Breakout (RBB) is a pattern that Rick Saddler, founder of Hit & Run Candlesticks, recognized and named for its rounded bottom appearance on the daily chart. In many cases, it looks like the letter “U” with a flat bottom. This is because price drops down during the downtrend, it then rests or stops dropping for awhile and then it starts to move up.

The Rounded Bottom Breakout (RBB) is a great chart pattern that signifies that a downtrend has ended and an uptrend is beginning. Traders call this a “trend reversal” pattern. So, the RBB is a type of trend reversal pattern. There is no guarantee that this or any other pattern works every single time, but as you learn how the pattern develops, you can understand why the odds are stacked for a downtrend reversal.

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

Members Trade Ideas Below

Members trade ideas below reserved for subscribed members

Scanned from Tc2000 | 10-15 trade ideas daily

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 time. That time could be one to 30 days for example.

From that watchlist, we wait until price action meets our conditions for a trade.

The Price Action is Encouraging. Posted at 7:54 AM EDT

April 18, 2017 by Doug Campbell

The Price Action is Encouraging. The question is can it break through resistance?

The price action Monday was very encouraging. I kept going through charts and must admit the temptation to break my rules was strong. During the RWO session yesterday I marked up the index charts to illustrate where I would see proof of a reversal. My plan and the discipline to stick to it kept me taking the leap. With the Dow futures posting overnight lows of -60 points once again confirmed that sticking to a plan is the right thing to do.

To be honest, there are times when sticking to my plan has at times cost me money. We have all seen a reversal that rips higher and never looks back. At those time you want to kick yourself for sticking to a plan, however, most of the time, the plan will save you from yourself. I can show you years of statistical data to prove that sticking to a plan works. It shows that following a discipline (a process) that a plan provides is priceless.

Boring right? Who wants to follow a bunch of rules? A simple question to ask yourself if you trade without a plan; Is your account growing consistently? If your answer is no, then the question has to be are you willing to change? If you answer that question with an emphatic YES, then you have made a breakthrough. Your next step is clear. If you answered No; my suggestion would be to stop trading right now! Find an advisor that will put you in some diversified mutual funds. You and thank me later.

On the Calendar

Today we have a couple of market-moving reports on the Economic Calendar. First up we will get a reading on Housing Starts at 8:30 AM Eastern time followed by Industrial Production at 9:15. Between these big report, we have another Fed speaker with something to say at 9 AM. Today we have 53 companies reporting as we ramp this earnings season.

Action Plan

In the last hour, the futures have been climbing back toward positive gaining almost 50 points. The rally is mostly a result of the big bank earnings on BAC and GS. Their numbers were positive, but I have to say looking at the charts there is nothing that impressive. I plan to be cautiously optimistic today when looking for new positions. I will not be at all surprised to see a retest of overnight lows, however. Please keep in mind the indexes are right at the point where a failure to break the downtrend is likely to occur. The conditions are perfect for a whipsaw so plan accordingly.

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Trade wisely,

Doug

Blue Ice Failure, Bearish h Pattern, Inverse ETF

April 13, 2017 by Rick Saddler

Blue Ice Failure, Bearish h Pattern, Inverse ETF

All three, the Blue Ice Failure, Bearish h Pattern, Inverse ETF’s are proven and important tools and strategies we have in the Hit and Run Candlesticks trading tool box. The market is not always bullish and we traders need tools like this from time to time.

We hope you can have the same success we have with the strategies. If you would like to take your success to the next level, we offer Private Coaching, Educational manuals.

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Video Replay Topics

Blue Ice Failure – Instruction Manual
Bearish “h” Pattern – Instructional Manual
Inverse ETF’s – Why have a couple in your stable

Membership Benefits

Focus during the day is on trading and trading education
Learning about chart patterns – what are they and how do they work
Candlestick signals – which ones matter and which ones don’t
Trends – just how important are they
Trend lines – how to draw them, from where to where
Learn more Click Here

Bearish “h” Pattern

The Bearish “h” pattern looks like the letter “h” and is considered an uptrend reversal pattern. It forms as part of down trending price action. You might say that this is the upside down version of the Bullish J-Hook pattern. As price pulls back from a swing high, the key is to look for a brief rally with three or four candlesticks that have higher highs because this may be part of the Bearish “h” pattern. After this, price stops moving up and start moving sideways. The highs of the candlesticks in this part of the “h” pattern stay in the same price range. You can literally draw a box around the candlesticks that form the top of the Bearish “h” pattern. Price then starts to move lower and breaks down and out of the sideways price action.

Blue Ice Failure

Investing and Trading involve significant financial risk and is 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