FEYE 2-Day Bullish Engulf
FEYE has printed a 2-day Bullish Engulf after a bullish pullback. Mid August FEYE started its turn from bearish to bullish, and the current Bullish Engulf on the 2-day chart or gap on the daily chart is the clue I need to add FEYE to our watchlist. Also take a look at the weekly chart, if that doesn’t excite you. I don’t know what will. Current trade: FEYE bullish above $19.05 Stop below $18.20 targets $21.00 $23.60. Our trade ideas are found using TC2000 Software
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Understanding Candlesticks Q-Why don’t Candlestick signals work every time?
A-Reversal patterns are more clues of what could come, rather than what is.
Q-What is follow through?
A-Follow through is when price action moves higher than the clue candle.
Q-What is positive trading?
A-Positive trading is when price action works within the clue candle range
Candlesticks within a tight chart pattern are building a candle in a longer time frame
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SPY • Price In The Band
The recent price action of the last few days was a clue that the buyers are starting to circle, yesterday’s gap held fairly well into the closed above our lower T-Line Band. The futures are pointing a little higher this morning. In a perfect world, I would like to see the SPY closed up above our upper T-line Band Which is about $275 .70, of course by then we’re going to need a little profit taking and that could set us up for our low high/higher low and higher high chart pattern. Once above upper T-Line Band, the $280.00 price target is possible.
Bottom line is if the bulls can keep this up we could soon see the T-Line Bands turn positive, if not a test of the recent low.
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****VXX – The VXX chart is still a bullish chart pattern and can raise it’s head anytime. We did buy a few PUTS on it yesterday for a quick trade.
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Past performance is not indicative of future returns
Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020, Top Gun Futures or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.
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