A Good Day To Exercise Caution
A Good Day To Exercise Caution
(It’s Friday) and it’s a good day to exercise caution and protect your hard earned profits. Yikes, the transports (IYT – ETF) had a very bad day yesterday and may be trying to build a Bearish “M” pattern. Price is below the Lower T-Line Band on many times frames. The 200-SMA could act as support, but right now the chart is looking a little angry.
Friday is the day we count our money and reflect on our weeks trading. How did we do? How can we improve? Take time today to pause on trading and consider education. Reevaluate your trading goals, are your goals on track?
Friday’s Open Live Trading Room
Learn more about Hit and Run Candlesticks and check us out in the LIVE TRADING ROOM. ClICK HERE and Choose Room #1 take advantage of our trading room FREE on Friday’s. We talk about past, current and upcoming trades.
Hit and Run Candlesticks Trading Stats Last 30-Days
Below you will find the Hit and Run Candlesticks trading stats for the past 30 days.
With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlestick, Right Way Option, Strategic Swing Trade Service and Trader Vision.
Eyes on The Market
For the past three days, the market has lost interest in moving higher and tested the Daily T-Line intraday. The 4-day chart has printed a Hang-Man Candle and based on the futures this morning we could see a test of the T-Line or even lower. Yesterday also tested the 23.6 Fib line on an intraday pullback based on the recent run. The 38.2 Fib Line is at $244.90, and that is the JUNE high price support.
What is a Trade Idea Watch-list?
A trade idea watch list is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame. That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.
Monday through Thursday Hit and Run Candlesticks shares with members 10-15 trade ideas for the watch list.
Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.
Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.