Rick’s Featured Trade Ideas
EROS/Long (Media) EROS is producing a Hit-And-Run Candlestick Pinball setup, a left-sided scoop that’s beginning to look like a right-sided scoop as well. Prices closed over the T-Line™ and the 20-day simple moving average.
EROS/ Profits through education Dec 16
Possible entry plan idea: Buy box $Member Only
Possible stop plan idea: Close below $
Risk Reward 4:1 depending on entry/exit/stop
100 long shares of NTES would have netted you $2145.00
Member’s trade idea November 20, (NTES) Long working $2145
Member’s trade idea December 15, RTK Long working 14.52%
Member’s trade idea November 3, (CASY) Long working $1758
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SPY: Today’s the big Fed day!
The SPY gapped yesterday and managed to crawl to the 50-day simple moving average only to slip backwards closing underneath the T-Line™. Overall, yesterday was a go nowhere day. Visually, you can still see the bearish “M” pattern, but we all know that today could be a game changer and the market could run up or down.
- My plan for the last couple of weeks has been to slowly move into cash, and I’m nearly there.
- Today I will not buy the first two knee-jerk reactions.
- I will stay focused on trends, support/resistance, candle and chart patterns.
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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
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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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