Trade Ideas October 17, 2014
Today’s Swing Trade Ideas
ACHN/Long- (Healthcare Biotechnology) ACHN Has had bullish support for the past 12 days while the overall market had been drowning. In that 12 day stretch I see a series of low – high – higher highs, two sets of them. In the last five days has produced three Doji’s a Bullish Engulf with follow-through that squeezed the big three nice and tight. With 25% to the recent high and about 47% to the $16 area makes ACHN our featured trade idea.
My entry plan idea: Positive trading over the 50 SMA
My stop plan idea: End of day close below 50 SMA
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- Closed out 2 day BIDU trade for $2,300
Good Morning,
SPY: First and foremost, I am not at all convinced that this is the big reversal we’re looking for, and always monitor your charts for support and resistance…
For now, I am looking at Wednesday’s low to be a tradable low with a target near the 200-day simple moving average around $190.75. If you were to take just the two candle bodies of Wednesday and Thursday, the market painted a bullish belthold. The bullish belthold reversal pattern has the ability to send us to the 200-day simple moving average with possibly even more, but we need more proof for that.
IWM: Wednesday IWM painted a double bottom morningstar bullish engulf off of the 50% Fibonacci retracement line with bullish follow-through closing over the T-Line Thursday. That’s a lot of bullish reversal checkmarks. Yesterday in the trading room, the bullish scanner was spinning nearly out of control with bullish charts and patterns showing up everywhere. Please don’t get me wrong. I definitely do not think this correction is completely over; however, I do see a very tradable rally. About $110 will be a very important number for IWM to beat.
- Short-term swing traders should be ecstatic with yesterday’s close over the T-Line.
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Members Trade Ideas – Members Only
In the members area you will find 10-15 trade ideas every day
Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:
| Symbols formembers only | Date | Long/Short | Try our Membership, Check out the Trading Room | |
| 10-14-14 | Long | Buy on positive trading | ||
| 10-9-14 | Long | Caution | ||
| 10-3-14 | Long | Buy over T-Line | ||
| 10-2-14 | Long | T-Line stop | ||
| 9-30-14 | Long | Buy on positive trading/T-line run | ||
| 9-25-14 | Long | Buy on positive trading | ||
| 9-18-14 | Long | Buy over T-Line | ||
| 9-5-14 | Long | Close | ||
| 8-28-14 | Long | Buy on positive trading | ||
| 8-14-14 | Long | Buy on positive trading/reversal setting up | ||
| 8-13-14 | Long | Buy on positive trading | ||
| 7-8-14 | Long | AAPL is messing with us |
VXX S&P 500 VIX Short Term Futures: A close below the T-Line ™ implies the bearish short-term swing traders are in control, Yesterday’s candle implies sellers are in control.
USO United States Oil Fund: A close below the T-Line ™ implies the bearish short-term swing traders are in control. The current candle pattern (Doji/Bullish Engulf) implies buyers are in control.
TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle implies buyers are still in control, J-Hook breakout getting extended.
The above are just my thoughts to myself just thought I would share with everyone.
Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.
Rick
