Just because a signal is composed of only one candlestick, that doesn’t mean it can’t pack a big punch. Take the Hammer candlestick pattern. Formed of a small body and a long tail, the Hammer sends a strong message nevertheless. This bullish reversal pattern indicates that after a downtrend, the bears drove down the price until the bulls gained control. If it can be confirmed, it signifies that an uptrend is on the way. Let’s dig in a little further to help you better understand and identify this common trading signal . . .
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Today’s Swing Trade Ideas
TZA/Long (Small-Cap Bear 3X ETF) TZA is back on the featured list because it’s off its lows closing above the t-line and a swing low buy signal along with a candlestick continuation pattern.
My entry plan idea: Above the t-line, careful not to Chase
My stop plan idea: A close below the T-Line for now
Good Morning,
SPY: We’ve sure seen a lot of Doji closes in the spy over the past couple of weeks so yesterday’s Doji close should not have been a surprise and the buyers have continued to keep price leading the t-line in Continue Reading
Today’s Swing Trade Ideas
LRAD/Long (Technology Sector) LRAD is forming a bullish W pattern that has now come back over the big three with a 13.88% move yesterday after a PBO double bottom pattern with about a 20% profit target or more depending on your entry and exit.
My entry plan idea: Below $3.20 inside day
My stop plan idea: A close below the T-Line for now
MITK, URZ, SNSS, KING, SPEX, BDBD, EXK are all double digit gainers from our MEMBERS’ trade Ideas over the last 12 days ranging from 10 – 44%. Looking for a friendly “Cheers” like trading room?
Good Morning,
SPY: The flagship of stock trading which is price continues to sail into bullish waters. The SPY has been consolidating over the last few days and the bullish decision of yesterday is forming a Continue Reading
