Today’s Swing Trade Ideas
LOCO / Long (Restaurants) LOCO was trading bearish for several days below the T-Line, and a low was put in on December 16. Then for the next week or so, price moved sideways still underneath the T-Line with a slight dip creating a scoop pattern. A tiny bullish Harami sparked a gap with another gap closing over the T-Line and the 20-day simple moving average. The T-Line is currently 13% away from the 34 EMA. If bought low enough, we can call this a pinball setup to the 34 EMA and on continued follow-through, there is a possible 25% profit to the 50-period moving average.
My entry plan idea: Inside day buy below yesterday’s high and above the T-Line
My stop plan idea: A close back below the T-Line for now
Yesterday’s featured trade idea ran 12.4%
Yesterday we sold:
AG for a 27.54% profit
GFI for a 14.69% profit
JNUG for a 27.77% profit
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Good Morning,
SPY: From a longer view, we still have a bullish trend, but the short-term trend or what I refer to as the swing traders’ trend is Continue Reading
Today’s Swing Trade Ideas
CUR / Long (Healthcare Biotechnology) On October 20, 2014, CUR painted a long wick, and for the past three months, CUR has consolidated sideways. It painted a bullish morning star about two weeks ago and then formed your basic 1-2-3 pattern with another morning star and a Doji sandwich (continuation pattern) in one of our Rounded Bottom Breakout patterns (RBB)
My entry plan idea: Inside day below yesterday’s high and above yesterday’s low
My stop plan idea: A close back below 2.75
H & R Members Watch-list January 5, 2015
JNUG + 16.52%
UVXY +14.39%
EXK +4.80%
Good Morning,
SPY: Yesterday’s close below the T-Line suggests the short-term sellers are still in control, and you can see on your chart that the candlestick is Continue Reading
Today’s Swing Trade Ideas
EXK / Long (Basic Materials Silver) EXK has come off of its lows closing above the T-Line with about 13 1/2% between the T-Line and the 34 EMA and about 25% from the T-Line to the 50-day simple moving average. EXK is set up for both a pinball trade as well as a snap-back 50 trade. Also take note of the 1-2-3 formation with the Doji Bullish Engulf the last two trading days. All are strategies that we use here at Hit &Run Candlesticks.
My entry plan idea: Positive trading above the T-Line
My stop plan idea: A close back below the T-Line.
Good Morning,
SPY: Friday’s close was below the T-Line suggesting the short-term sellers are in control. When this occurs, it’s important to be patient and wait Continue Reading
Today’s Swing Trade Ideas
REN / Long (Energy sector) REN is a pinball setup with about 39% to the pinball target. REN is a 1-2-3 chart with a confirmed bullish morning star that has now closed back above the T-Line and the 20-day simple moving average. The chart is still in a confirmed downtrend; therefore, we are only looking for a relief rally.
My entry plan idea: Inside day with a close over the 20-day period moving average would be nice.
My stop plan idea: A close back below the T-Line.
Trade management is so very important.
Good Morning,
SPY: Prices closed back down through the T-Line which means the bullish swing trader has lost control until a bullish reversal signal and
Continue Reading
