What do you like to do after a long day? Kick your feet up at home? Go for a run to de-stress? Head out on the town for a dinner with friends? Relax in bed with a good book and a glass of wine? Whatever your preference, I would be willing to bet that you would do something different if a Long Day candlestick appeared on your Japanese candlestick chart. One of the simplest signals around, much like a Doji, the Long Day candlestick is not particularly influential until you combine it with other candles to form a larger pattern. Nevertheless, in the right context, it can pack a punch. So today, we’re exploring its formation and meaning . . .
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Rick’s Featured Trade Ideas
GLUU/Long (Gaming and Multimedia) GLUU has produced a bull kicker gap, closing up over the 50-SMA creating a rounded bottom breakout. With a couple of bars of consolidation followed by solid bullishness yesterday and the beginning of a T-Line run™, GLUU has great profit potential for the swing trader.
$$$ If the trading room you’re in did not help you with the $DUST trade, you may be in the wrong room $$$.
GLUU Plan your trade & trade your plan February 10, 2016
Possible entry plan idea: Buy Box $Members
Possible stop plan idea: Stop Below $Members
Risk Reward 17:1 depending on entry/exit/stop
SPY Attitude: (Price will Attempt a Relief Rally) And it looks as if price will attempt a relief today, or, in another way to put it, price will try to sneak through a bearish feeding ground. Everybody knows that the SPY is in a downtrend. Where it gets fuzzy is how many ways can we paint an uptrend. For each trader, the answer may be different. For me, it’s simple; first, what is
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Rick’s Featured Trade Ideas
ICON/Long (Apparel) ICON above $7.50, this RBB setup has a high probability to pay off; however, it will need the help of the market.
The Hit & Run Candlesticks trading room offers education and great trade ideas.
$$$ Trading Room Profits Monday were great with SBUX, MXL, and NFLX $$$
ICON Plan your trade & trade your plan February 9, 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: (The bear is in Charge! – Timing is everything.)
The Bulls were able to defend $184.75 printing a dragonfly/hammer candle, and it is possible that this candle and the bull action yesterday could cause a very small relief rally, maybe to $189.05, but I doubt seriously the bear is ready to give in. With nothing
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Rick’s Featured Trade Ideas
INTU/Short (Software) Price action has demonstrated a clear blue ice failure on the daily chart. Price is also close back below the 34–EMA and the T-Line™
The Hit & Run Candlesticks trading room offers education and great trade ideas.
$$$Wednesday, Thursday, Friday last week NUGT was one of the big winners in the Trading Room $$$
INTU/ Plan your trade & trade your plan February 8, 2016
Possible entry plan idea: Short Box $Get you 2 week trial
Possible stop plan idea: Cover area $Get you 2 week trial
Risk Reward 5:1 depending on entry/exit/stop
SPY Attitude: (The bear is running free)
$184.75 is a number the bulls need to defend and it looks like that area may be a battleground today. Friday the sellers were able to wake the bear up with a negative close in the morning, and futures are suggesting the bear may be hungry for the $184.75 support area. Taking price out of the picture all of our decision-making lines are in agreement with the bear.
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