Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SGY Long | RBB | Double Bottom | Morning Star | Bullish Engulf 3-day chart
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bear’s eye: Yesterday the IWM chart confirmed a bearish Doji Continuation pattern, price closed below the upper T-Line band and the T-Line, this action suggest the short term sellers are taking control. If the Lower T-Line band is cracked the possibility will increase to a $130.30 test.
The SPY’s Bearish Engulf has closed below the upper T-Line band putting the $219.75 line and the lower T-Line band in jeopardy.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SGY Long | RBB | Double Bottom | Morning Star | Bullish Engulf 3-day chart
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bear’s eye: Yesterday the IWM chart confirmed a bearish Doji Continuation pattern, price closed below the upper T-Line band and the T-Line, this action suggest the short term sellers are taking control. If the Lower T-Line band is cracked the possibility will increase to a $130.30 test.
The SPY’s Bearish Engulf has closed below the upper T-Line band putting the $219.75 line and the lower T-Line band in jeopardy.
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
HSC Long | Bullish “W” Pattern | Bull Mat Hold | Continuation pattern
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Yesterday the SPY printed a Doji supported by our $220.50 line, keeping the T-Line™ Run intact.
IWM not as productive as the SPY was. IWM printed a weak Doji with sellers pushing the buyers to the bottom of the candle, T-Line™ Run still working. 60-min IWM chart closed below the T-Line™ lower band suggesting short-term weakness.
Members Daily Trade Ideas. Be aware of sudden market changes!
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
HSC Long | Bullish “W” Pattern | Bull Mat Hold | Continuation pattern
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Yesterday the SPY printed a Doji supported by our $220.50 line, keeping the T-Line™ Run intact.
IWM not as productive as the SPY was. IWM printed a weak Doji with sellers pushing the buyers to the bottom of the candle, T-Line™ Run still working. 60-min IWM chart closed below the T-Line™ lower band suggesting short-term weakness.
Members Daily Trade Ideas. Be aware of sudden market changes!
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Good Morning Traders.
At the close yesterday, it sure looked like the market would be selling this morning but the bulls refuse to give up this bull rally at least at the moment. As I write this the Dow and the S&P futures at pointing to new record high opens. One reason for the sentiment change is that OPEC is planning a production cut and the other seems to be appointments made by Trump getting a market approval of his selections.
We have a bunch of economic numbers today as well as several Fed speakers so there are plenty of ways the early bullishness could be toppled so keep an eye on the headlines for clues of a possible shift.
Currently, the RWO holdings seem to be well positioned to benefit from the market bullishness so make sure you have your profit orders in place just in case the morning pop reached out and grabs them. Have an awesome trading day!
Trade Wisely,
Doug
Click Here to Watch the Morning Video
Good Morning Friends.
Yesterday we finally saw a little profit taking take place which was way overdue in my humble opinion. Now the question on everyone’s mind is how long will it last and when should we start buying? I wish it was in my ability to tell you the exact date and time but as always the best we can do is wait for the price action on the chart to tell us. Until then relax, watch and avoid the temptation of predicting.
There are clearly so many bullish charts setting up right now if we will have the privilege of being very picky. There is no need to feel pressured or rushed the trades will come to us if we just let them.
This morning we will get a reading on GDP at 8:30 eastern time. The market has a tendency of reacting to this number so keep an eye on the pre-market futures. As I write this they are pointing to a slightly bullish open but that can quickly change depending on the market’s reaction to the number. We will also hear some Fed speak this morning so anything is possible when they begin to pontificate on rates.
My personal bias based on the close of yesterday is for more profit taking to take place but we all know the market could care less about what I expect or want. Have a fantastic day.
Trade Wisely,
Doug
Click Here to Watch the Morning Video
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ESND Long | Inverted Head & Shoulder | RBB | Continuation pattern
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Is the market tired and in need of a rest? IWM ended the day with an Evening Star Signal which suggests well-deserved profits are being peeled off.
Yesterday early on I mentioned to the trading room I would be keeping my eye on the hourly chart and you can see the channel tightening at the top and the sellers attack the lower support line with success.
The daily Evening Star Signal on the IWM chart suggest a lower low today, in the very near future, we could see a test of $130.90.
Follow Hit and Run Candlesticks for your updates.
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