Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ALJ | RBB| Bullish Engulf | PBO bullish J-Hook
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
On the daily chart the SPY formed a Bullish Harami above yesterday’s low unfortunately it did not close back above the T-Line™ as always candlestick signals must confirm but then again that’s true with price in general not just Candlesticks. If you look at yesterday’s Harami on an intraday chart (I am looking at a 1-hour and 2-hour chart) you can see a bear flag forming, this is why you need confirmation on the daily chart.
Be aware of QE from the Bank of England today and job numbers tomorrow, we should be prepared for anything in the market. Keep the watch lists for both long and short updated and handy.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
FEYE | PBO| Bullish Engulf
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
The SPY has moved below the T-Line™ along with DIA, IWM, IYT and SMH. This is signaling the sellers are wanting there piece of the pie. Over all, the market is still bullish as long as we hold above support. The
profit taking pullback in the SPY, IWM, DIA is either testing the 23.6 Fib retracement (a bullish PBO so far). Friday’s job numbers may give the market a nudge one way or the other.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
DVAX | RBB |Morning Star |
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
Bottom Line, this is a very boring market! DIA’s are a little closer to a possible support level; the SPY, IWM and the QQQ’s remain above the T-Line™. The QQQ’s produced a very concerning high wick yesterday.
Keep in mind, this is only the 30-min chart. I am seeing a slight crack in my 30-min chart on the SPY and IWM, the DIA’s cracked a few days ago. The QQQ’s, depending on how they close today, could also show signs of cracking.
The Bulls/Buyers still have the upper hand, and a minor pullback may offer a buying opportunity. We will be watching support for buying opportunities or weakness.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
LIFE | RBB |Buy box 3.15 – 3.60
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
**** Password change for the Trading Rooms*****
The SPY and QQQs remain in bullish territory with price leading the T-Line™, and the DIAs are still in bullish territory while fighting the T-Line™ in a mild pullback. If the SPY cracks $215.50, a support test at $213.40 will likely follow. We remain bullish and very cautious at the same time with oil falling and 20-year treasury bonds rising.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Any trader worth his or her salt knows that, when relying on a forecast provided by Japanese candlesticks, it is always best to wait for confirmation. By watching what happens right after a signal pops up, you can verify the reliability of the pattern. Thus, if you can afford to hold your horses for another trading period, you can increase your confidence and peace of mind before making your trade. Some signals, like the Three Outside Down candlestick pattern, are built upon the concept of confirmation. After all, when it comes down to it, the Three Outside Down is just a confirmed Bearish Engulfing signal.
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