When you hear the term “three strikes,” you probably think of baseball. Three strikes and you’re out! Depending on which team you’re rooting for and who is at bat, that third strike could be frustrating or gratifying. When it comes to Japanese candlesticks, there are two forms of Three Line Strikes, one bullish and one bearish. Today we’re focusing on the Bullish Three Line Strike, a rare candlestick pattern that forms during an uptrend. Composed of four candles – three white and one black – this signal indicates that a continuation of the current trend is likely.
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Rick’s Featured Trade Ideas
SCLN/Long (Healthcare) Belt Hold | Bullish Engulf | LH-HL |
SCLN| Plan your trade & trade your plan | March 30, 2016
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below $Members Only
Risk Reward 7:1 depending on entry/exit/stop
SPY and T-Line Swing Trade Attitude: Daily Chart Price & T-Line Bullish
7:00 am: Over the past few days, the SPY has pulled back below its trendline printing a mini belthold and finding support just above the 38.2 fib line. Follow through with a Doji and then unleashing of a Bullish Engulf monster yesterday when Janet Yellin had a definite dove sitting on her shoulder. The key today, or at Continue Reading
Rick’s Featured Trade Ideas
CUDA/Long (Communication) Trend line support | RBB| PBO support | Morning Star
CUDA| Plan your trade & trade your plan | March 29, 2016
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below $Members Only
Risk Reward 6:1 depending on entry/exit/stop
SPY and T-Line Swing Trade Attitude: 60-min T-Line < 34-ema
7:00 am: Price will slide below the T-Line™ today; whether or not it stays there is something we’ll have to wait for. The SPY has enjoyed a very nice rally from mid-February until March 17. On March 22, the SPY showed signs of weakening and not enough energy to push higher. On March 24, the SPY gapped down below the bullish trend line, and this is a sign of weakness compared to its recent trend. March 17 to the 22nd also ran into a great deal of horizontal resistance in Continue Reading
Rick’s Featured Trade Ideas
OUTR/Long (Retail) Minor target 12% | RBB| Inv. Hd & Shold. | PBO above 35.15
OUTR| Plan your trade & trade your plan | March 28, 2016
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below $Members Only
Risk Reward 6:1 depending on entry/exit/stop
SPY Attitude: 4-hr Price > T-Line™ |
7:00 am: Thursday the SPY gapped down tagging the 200-period moving average and then closing up to the T-Line™. Thursday’s candle could possibly be the PBO candle that the PBO traders are looking for. It will be important for the Bulls to take a stand today, and at the very least, they need to hold $201.05
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