Rick’s Featured Trade Ideas
MENT/Long (Technology) With a double bottom, bullish “w” pattern, RBB and a breakout of the Recent T-Line™ swing high, MENT may be setting itself up for a run to $20.80ish and then 23.40ish.
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MENT Plan your trade & trade your plan February 22, 2016
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Stop below $Members Only
Risk Reward 5:1 depending on entry/exit/stop
SPY Attitude: (2-T-Line™ up/T-Line™-34 down) It looks as if the Bulls will take price above $194.58, and that will be a major victory. Of course, by the end of the day, price still needs to close above the victory line. The current chart pattern, is a double bottom and the high probability of a bullish “W” breakout today. The Doji star gap up of six days ago has led to a T-Line™ run and a little 2-bar flag on the daily chart. Price has closed over our two major deuces on
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Rick’s Featured Trade Ideas
AMZN/short (Specialty Retail) We shorted AMZN yesterday. AMZN printed a Bearish Engulf yesterday at the 200-sma suggesting a Red Ice Failure. Notice the recent Blue Ice Failure and lower lows and lower highs.
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AMZN Plan your trade & trade your plan February 19, 2016
Possible entry plan idea: Sell Box $Members Only
Possible stop plan idea: Cover above $Members Only
Risk Reward 6:1 depending on entry/exit/stop
SPY Attitude: (2-T-Line™ up/T-Line™ 34 down)
It doesn’t look like the bulls are able to control $194.63 just yet. When you think about the run we’ve had this past week, a little pullback or profit taking should not be a surprise. Let’s keep our eyes on how price acts at the T-Line™ in the next day or two. If the Bulls can defend the $189.50 area, it would suggest
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Even if they don’t have Peter Pan’s sly and scheming shadow, you can learn a lot about someone’s shadow from its size and shape: the position of the sun, the time of day, the person’s body position, the surrounding sources of light, and more. In the world of Japanese candlesticks, shadows go by several different names, including tails and wicks, but whichever term you prefer, it is important to understand the significance of a long lower tail. So today, we’re exploring a very simple signal: the Long Lower Shadow candlestick. Whether on its own or acting as a part of a larger pattern, this signal can help you understand many other candlesticks.
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Rick’s Featured Trade Ideas
WWW/Long (Footware) WWW kicks the trade off with a bullish piercing candle back in mid-January followed by a bullish T-Line™ run. Profit-taking took place below the T-Line™, and the Bulls were able to put together a morning star pattern followed by a Doji continuation pattern along with a Bullish J-Hook continuation.
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WWW Plan your trade & trade your plan February 18, 2016
Possible entry plan idea: Buy Box $Members Only
Possible stop plan idea: Stop Below $Members Only
Risk Reward 8:1 depending on entry/exit/stop
SPY Attitude: (2-T-Line™ up/T-Line™ 34 down) Another great day for the Bulls closing up 1.63% at $192.88, well within our expected target area. On the daily chart, the SPY is on the verge of breaking out of a bullish ‘W’ pattern. If the Bulls can manage to control the $194.63 resistance line, then the next bullish target would be between $200.00 and $202.00. Let’s keep in mind that the SPY could have a relapse and the old mama bear could come back out. If
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