So the question is, do we buy, sell or hold? Let’s take a look at the chart, from the December lows the bulls have built a bullish trend, and the trend is still intact. Price action trend has been as of yesterdays close still is making new highs/higher lows. February 5, price action made a new high and is now pulling back toward the bullish trendline. The TC2000 T2122 chart was pegged and has now rolled over signaling a pullback.
Here is what we have done with this information, at the recent high we profited on a few winning long positions and have bought PUTS on the market. Yesterday we profited on a few of the PUTS, and now we are closely managing a few positions waiting for the SPY to give us a clue as it moves closer to the bullish uptrend line. We currently see this pullback as a bullish buying opportunity as long as price action stays above the trend. The key now is to identify the right price action buy/sell signal.
Two new auto scans have been added to the LTA-Live Trading Alerts Scanner; the Bull -Fig Newton pattern and the Bear- Oreo Pattern. With over 100 built-in scans my favorite bullish scans are the Pop Out of The Box, The RBB, The 3×8 Trap, The Fig Newton. If you need set with the scanner set up or adding scans just let us know. Each day (Market hours) we provide Free Scanner coaching in our training room.
No password required – Join in we love to help.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service