Rick’s Featured Trade Ideas
WLL/LONG |Higher lows | Bullish “w” pattern | Cleared the 200-sma|
WLL| Plan your trade & trade your plan | May 26, 2016
Possible entry plan idea: Buy box $11.74- $12.70
Possible stop plan idea: Protective below $11.74
Swing trade playground: $11.74- $17.80=51%
Playground risk reward: 11:1 + depending on | entry | exit | stop
SPY: 209.76 is an important level to beat
7:00 am: T-Line™ —–> Chart is Bullish
Yesterday, the SPY closed at $209.28, up .68% for the day and up 2.49% from May 19th or the past five days led by technology, healthcare, financials and energy comes in fourth. The Bulls managed to close over the May 11 high or $208.50. As long as they can keep this run, the next hurdle for the Bulls will be a climb over $209.76.
The T-Line™ chart price has definitely crossed to the bullish side the past two days, and the T-Line™ has now crossed over. As of today May 26, 2016, a pull back to $206.25 would be acceptable for the Bulls, but a max pull back to about $207.00 would be preferred.
Trading knowledge ignites successful trading.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
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Rick’s Featured Trade Ideas
RAS/LONG |RBB| Bottom support / Bullish Engulf | Consol. Breakout
RAS| Plan your trade & trade your plan | May 25, 2016
Possible entry plan idea: Buy box $3.11- $3.35
Possible stop plan idea: Protective below $3.11
Swing trade playground: $3.11- $3.75=20%
Playground risk reward: 5:1 + depending on | entry | exit | stop
SPY: 208.50 new important level
7:00 am: Simply put, yesterday was a great day in the market
At the end of the day, the SPY closed up 1.3% after gapping from an inside day creating a bull kicker-type candle pattern. With a close over $207.00, the Bulls are in a good position to challenge the May 11th highs. Yesterday’s volume was greater than the previous day, and yesterday’s volume closed over my 25-day simple moving average. IWM also closed over a very important bear level.
Remember that price action is king, and it’s always best to follow what it’s doing. Following candlesticks is a great way to always have a feel of the market attitude.
Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
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Rick’s Featured Trade Ideas
PTLA/LONG |RBB| H’er H / H’er L | T-Line™ Run | 3-D Piercing Candle
PTLA| Plan your trade & trade your plan | May 24, 2016
Possible entry plan idea: Buy box $25.23- $26.88
Possible stop plan idea: Protective below $25.23
Swing trade playground: $25.23- $33.30=31%
Playground risk reward: 9:1 + depending on | entry | exit | stop
SPY: Can the Bulls keep their pre-market move going?
7:00 am: Morning futures taking on the upper trend line.
The SPY traded in such a tight trading range yesterday that one has to ask, “Is everybody on vacation?” No, everyone’s not on vacation. The market has just not made its mind up whether the Bulls or the Bears are going to take charge and lead. Most chart technicians can make a Bullish or a Bearish argument on the SPY chart, such as most technicians can see the bearish head and shoulders formation, but there is yet to be a breakdown below the neck line. Most bullish technicians know this recent pullback has found support near the 23.6 Fibonacci retracement line and that the Bulls are simply building an army. What all chart technicians agree upon is that price needs to break above the upper downtrend line and clear the $207.00 area that Hit and Run Candlesticks has been talking about for about the past two weeks.
Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
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