Rick’s Featured Trade Ideas
RTK/Long (Basic Materials) RTK has successfully printed a double bottom leading with a Bullish Engulf that rallied above the T-Line and the 20-day simple moving average pulling back for three bars and finding price support plus moving average support. Yesterday’s bullish Harami may want to run to the 34 EMA gate. This chart strategy is a Hit & Run Candlestick classic (The Pinball Setup) and has consolidated for about 11 days and formed a bullish morning star signal on Friday. Leading up to the consolidation, it was a very organized and strong T-Line™ run.
RTK/ Profits through education Dec 15
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below $2.80
Risk Reward 6:1 depending on entry/exit/stop
100 short shares of FPRX would have netted you $1081.00
Member’s trade idea October 23, (FRPX) Short working $1081.00
Member’s trade idea September 30, NVDA Long working $870.00
Member’s trade idea September 15, (MUSA) long working $995.00
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In Hit & Run Candlesticks profit-taking fashion, we closed out and profited on SBUX and GPN, and we are on our way to cash before tomorrow’s FED party. My plan is to be as close to cash as possible before Janet starts dancing.
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Rick’s Featured Trade Ideas
LITE/Long (Communication equipment) LITE has consolidated for about 11 days and formed a bullish morning star signal Friday. Leading up to the consolidation, it was a very organized and strong T-Line™ run.
LITE/ Profits through education Dec 14
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below $
Risk Reward 8:1 depending on entry/exit/stop
100 short shares of SUPN would have netted you $556.00
Member’s trade idea September 10, (SUPN) Short working $556.00
Member’s trade idea November 3, CASY Long working $1603.00
Member’s trade idea November 20, (NTES) long working $1331.00
Receive your password / login instructions within minutes, and join us in the trading room starting today. Read More
In Hit & Run Candlesticks profit-taking fashion, we closed out and profited on our SBUX, FB short Friday and our TZA long. We were in great company with many in the trading room doing the same. Long live the profits.
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In a race, you might say that two competitors are neck and neck. They’re almost even, so close that the advantage may be constantly shifting from one to the other, or so close that the lead is virtually indistinguishable. In the world of Japanese candlesticks, one signal plays with this saying in its title: the In Neck. Because the bottom of the first candle and the top of the second candle are so close, they’re practically even. Always appearing in a downtrend, the In Neck candlestick pattern is a bearish continuation pattern. For a two-candle pattern, it’s quite rare, but you can use the tips below to find and interpret the In Neck signal.
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Rick’s Featured Trade Ideas
Friday – a great day to take PROFITS!
I will be covering 14 possible trades (long & short) for members in the trading room this morning starting at 9:10 Eastern.
SPY: The bearish “M” pattern, a pattern to recognize. Over the past few weeks here at Hit & Run Candlesticks we have talked about the bearish “M” pattern and has offered caution many times in the trading room. This pattern is BEARISH and not a pattern to fool with.
It is been posted several times that the November 16 low is more than likely to be tested and if you are trading long you would need to take special precautions.
The weakness continues in the SPY with yesterday failing the T-Line™ strengthening the bearish “M” pattern. The current price action is still suggesting that we test the November 16 low or about $202.00. with a failure of the $202.00 area, $195.30 could be where we find price if the market is unhappy with the FED decissions. The T-Line™ continues to act as a downward trend line for the short-term swing traders, the T-Line™ is also likely to push through the 34 EMA today, that would suggest more weakness for the Bulls.
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