Although I can’t be sure, I like to imagine that the name of the Bullish Belt Hold candlestick was created as a metaphor for the relationship between a pair of pants and a belt. During a trading session, the price is continuing to fall downward (like a pair of pants), but the presence of a Bullish Belt Hold (a belt) signals that the price (the pants) will be pulled back up. If nothing else, it’s a helpful mnemonic device! If you’re interested in learning more about this bullish candlestick pattern, simply scroll down. We can help you identify it, interpret it, and confirm its significance.
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Today’s Swing Trade Ideas
MILL/Long (Energy oil and gas) After forming a rounded bottom, a Doji Bullish Engulf was printed followed by a breakout of the 50-period moving average, two days of consolidation followed by a Bullish Engulf and then Friday closing with a Doji has MILL not only as a Rounded Bottom Breakout but also a Doji continuation pattern.
Entry, Stop & Profits for MILL will be discussed at 9:10 Eastern in the Trading Room…
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SPY: On the weekly chart, the SPY opened off the lows and closed above the highs, also opening below the 20-day period moving average and T-Line, then closing above both as Continue Reading
Today’s Swing Trade Ideas
ESI/Long (Education and Training Services) ESI has printed a bullish morning star signal that closed right at the 50-day simple moving average. For about 3-1/2 months, it’s been cruising sideways after its October bullish pop. From yesterday’s candlestick pattern, we are looking for a 20% plus move.
Entry, Stop & Profits for ESI will be discussed at 9:10 Eastern in the Trading Room Click Here to Join
Yesterday’s featured trade idea and members list: (LPI) produced 16.55% yesterday. We also closed LINE, MCEP and SN for 16.44%, 17.66% and 34.6%. For almost two weeks we’ve been waiting to pounce on these oils.
If you missed last night’s Member E-Learning you can find it posted in the members area
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SPY: The power of bubbling crude. The energy sector saw a bounce the last couple of days, and you can see it in charts such as USO, XLE, OIH, ERX, and SX90. With oil Continue Reading
