Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SQ Long | 3-day Cup & Handle | Ascending Triangle | PBO-Bullish Engulf
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: (SPY) Price continues to trade and close above the High T-Line™ Band. Until the High band is violated we will keep riding the bull.
No trader is denying the bulls are in total control and no trader is denying the market is very overbought. Being overbought is not a reason to close longs and run to shorts but it is a condition that we should be aware of.
I see support on the SPY daily chart near $218.85 and that is very near the 23.6 Fib retracement. On the 1 hour chart, I see support near $220.50
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SQ Long | 3-day Cup & Handle | Ascending Triangle | PBO-Bullish Engulf
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: (SPY) Price continues to trade and close above the High T-Line™ Band. Until the High band is violated we will keep riding the bull.
No trader is denying the bulls are in total control and no trader is denying the market is very overbought. Being overbought is not a reason to close longs and run to shorts but it is a condition that we should be aware of.
I see support on the SPY daily chart near $218.85 and that is very near the 23.6 Fib retracement. On the 1 hour chart, I see support near $220.50
Members Daily Trade Ideas. Be aware of sudden market changes!
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Rick’s Featured Trade Ideas
Members Trade Ideas below (click read more) no featured trade idea today.
Good Morning, Profit Traders,
From a bull’s eye: A bullish T-Line™ Run is in progress on the SPY as of the close. Wednesday’s price action and candle formation suggest the buyers outnumber the sellers.
I have SPY support at $219.60. A close below $219.60 could put $217.85 to the test.
Members Daily Trade Ideas. Be aware of sudden market changes!
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Rick’s Featured Trade Ideas
Members Trade Ideas below (click read more) no featured trade idea today.
Good Morning, Profit Traders,
From a bull’s eye: A bullish T-Line™ Run is in progress on the SPY as of the close. Wednesday’s price action and candle formation suggest the buyers outnumber the sellers.
I have SPY support at $219.60. A close below $219.60 could put $217.85 to the test.
Members Daily Trade Ideas. Be aware of sudden market changes!
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Good Morning Friends.
This morning the futures are fluctuating back and forth between a slightly positive to slightly negative open after closing yesterday and new record highs. There seems to be little to no interest in profit taking before the holiday at this point however, we will have several economic reports today that have the potential of moving the market.
After the morning rush, I would expect to see volume drop like a rock although we could see a little activity right after the FOMC minutes are released. My plan is to manage the positions that I’m in and work on watchlists today. Anything is possible but I think its unlikely I will be sending out new trades today.
Of course, the market is closed on Thursday and Friday it will only be open half a day with very light volume. Due to the holiday RWO will be closed both Thursday and Friday so there will not be morning videos or an open RWO room both days. We will get back in the saddle on Monday and hopefully the market will remain bullish.
I wish you all a safe and Happy Thanksgiving.
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
HDSN Long | Trending | Rectangle Breakout | Bullish Engulf
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 we closed out 1/2 of our OCN for a 25% gain and we’re still holding FRGI, STX with double-digit gains and EXAS short with a double-digit gain.
The SPY and the overall market is still enjoying a bullish rally and yesterday’s close suggest the buyers outnumber the sellers. A close below $219.85 could push a test of $218.50.
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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
HDSN Long | Trending | Rectangle Breakout | Bullish Engulf
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 we closed out 1/2 of our OCN for a 25% gain and we’re still holding FRGI, STX with double-digit gains and EXAS short with a double-digit gain.
The SPY and the overall market is still enjoying a bullish rally and yesterday’s close suggest the buyers outnumber the sellers. A close below $219.85 could push a test of $218.50.
The trading professionals at Hit and Run Candlesticks and Right Way Options have a combined 111 years of trading and training experience. Meet the Coaches
Members Daily Trade Ideas. Be aware of sudden market changes!
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Good Morning Friends.
As turkey day draws near the market continues to climb with the Dow leading the way. The DIA, IWM, and the SPY have all made new record high levels but the QQQ has yet to do so. Looking at the chart I suspect it will catch up and print a new record high soon, possibly even today.
WE have existing home sales on the economic calendar at 10 eastern time today . This number in the past proven to move the market so wait and watch for the reaction.
There is little left to say this morning except we could easily see volumes dropping today as may traders will likely head out early for their holiday plans. The market is bullish so it’s okay to get long but I would use caution about getting too long ahead of the holiday.
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
UAN Long | RBB | Inv. H&S | J-Hook 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: The SPY is trending and toying with a breakout to new highs; a PBO buy signal around the T-Line™ would be nice.
A PBO near $216.10 (support) would also work for a SPY swing. A T-Line™ Run is in place. The last T-Line™ run lasted 22 days.
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