Rick’s Featured Trade Ideas
ETE/Long (Energy) RBB | Dbl Bottom| Morning Star | Continuation pattern
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ETE| Plan your trade & trade your plan | April 11, 2016
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below $Members Only
Risk Reward 8:1 depending on entry/exit/stop
SPY vs T-Line™ 2-ema > T-Line™ Choppy market
7:00 am: Last week the SPY pretty much crawled along the $204.00 support line, and according to the morning futures today, we are opening above the $204.00 support line. Above $204.65, the Bulls may be trying to put a run together; below $203.95 and the bears may be starting to wake up. The earnings Continue Reading
One . . . Two . . . Three strikes – you’re out! This phrase can strike anger, joy, or even fear into the heart of a baseball player (depending on the situation). Three chances for a hit were squandered, and the opportunity has been lost. In the Bearish Three Line Strike pattern, on the other hand, those three short striking candlesticks are followed by a longer candle with the opposing sentiment. The arrangement of candles doesn’t indicate a “strike out,” as you might expect. Following a downtrend, the trio of descending black candles and the subsequent white candle actually demonstrate that a continuation of the current trend is probable. Continue Reading
Rick’s Featured Trade Ideas
No featured trade idea today | BUT there are 11 members trade ideas
SPY vs T-Line™ Price > T-Line™ Choppy market
7:00 am: Yesterday we mentioned that (IYT) Transportation ETF was vulnerable below $139.73; yesterday IYT dropped another 1.29% closing at $137.14, so the vulnerability continues. $135.91 is the next area that the Bulls have a chance to defend; if the bears stay in control, $133.55 may be tested.
The sellers were able to win yesterday’s game closing below our $204.00 line on the SPY. I see that the futures are up this morning a tad, but Continue Reading
