Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ITCI Long Inverted Head & Shoulder | Doji Continuation pattern |
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
**We have added a few new longs, we have set up the trade plan for Double-Digit gains
From a bull’s eye: The SPY has found support a1 $219.15 reversed and is now positioned to form a J-Hook continuation pattern (a breakout and follow-though is still needed). $222.20 followed by $224.00 would be good directional targets for the swing trader. $220.40 is now the new minor support line while $219.15is the major support line.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
WAC Long Cup & Handle | Belt-hold | 3-Day Morning Star |
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Italy voters say NO and the morning futures are higher, but will the bulls win by the end of the week or will the bears?
Follow the chart. (SPY short term) A close above $220.90 would put the bulls in a good position to test last week’s high while weakness below $219.15 would suggest the sellers have the upper hand.
The SPY and IWM charts still suggest the bull is in control with minor profit taking.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SGY Long | RBB | Double Bottom | Morning Star | Bullish Engulf 3-day chart
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bear’s eye: Yesterday the IWM chart confirmed a bearish Doji Continuation pattern, price closed below the upper T-Line band and the T-Line, this action suggest the short term sellers are taking control. If the Lower T-Line band is cracked the possibility will increase to a $130.30 test.
The SPY’s Bearish Engulf has closed below the upper T-Line band putting the $219.75 line and the lower T-Line band in jeopardy.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
HSC Long | Bullish “W” Pattern | Bull Mat Hold | Continuation pattern
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Yesterday the SPY printed a Doji supported by our $220.50 line, keeping the T-Line™ Run intact.
IWM not as productive as the SPY was. IWM printed a weak Doji with sellers pushing the buyers to the bottom of the candle, T-Line™ Run still working. 60-min IWM chart closed below the T-Line™ lower band suggesting short-term weakness.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ESND Long | Inverted Head & Shoulder | RBB | Continuation pattern
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Is the market tired and in need of a rest? IWM ended the day with an Evening Star Signal which suggests well-deserved profits are being peeled off.
Yesterday early on I mentioned to the trading room I would be keeping my eye on the hourly chart and you can see the channel tightening at the top and the sellers attack the lower support line with success.
The daily Evening Star Signal on the IWM chart suggest a lower low today, in the very near future, we could see a test of $130.90.
Follow Hit and Run Candlesticks for your updates.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SQ Long | 3-day Cup & Handle | Ascending Triangle | PBO-Bullish Engulf
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: (SPY) Price continues to trade and close above the High T-Line™ Band. Until the High band is violated we will keep riding the bull.
No trader is denying the bulls are in total control and no trader is denying the market is very overbought. Being overbought is not a reason to close longs and run to shorts but it is a condition that we should be aware of.
I see support on the SPY daily chart near $218.85 and that is very near the 23.6 Fib retracement. On the 1 hour chart, I see support near $220.50
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Rick’s Featured Trade Ideas
Members Trade Ideas below (click read more) no featured trade idea today.
Good Morning, Profit Traders,
From a bull’s eye: A bullish T-Line™ Run is in progress on the SPY as of the close. Wednesday’s price action and candle formation suggest the buyers outnumber the sellers.
I have SPY support at $219.60. A close below $219.60 could put $217.85 to the test.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
HDSN Long | Trending | Rectangle Breakout | Bullish Engulf
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Yesterday we closed out 1/2 of our OCN for a 25% gain and we’re still holding FRGI, STX with double-digit gains and EXAS short with a double-digit gain.
The SPY and the overall market is still enjoying a bullish rally and yesterday’s close suggest the buyers outnumber the sellers. A close below $219.85 could push a test of $218.50.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
UAN Long | RBB | Inv. H&S | J-Hook Continuation pattern
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: The SPY is trending and toying with a breakout to new highs; a PBO buy signal around the T-Line™ would be nice.
A PBO near $216.10 (support) would also work for a SPY swing. A T-Line™ Run is in place. The last T-Line™ run lasted 22 days.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ZOES Long | RBB | Bullish Engulf | Doji Continuation pattern
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: The current chart pattern in the SPY suggests more continuation higher with possible light consolidation along the way.
$214.55 is still a major support line that the buyers are defending well. Over $217.10 would set and suggest a path for the SPY to follow DIA’s and IWM to all-time new highs.
Hit and Run Candlesticks is hosting a series of educational trading webinars with five professional traders. We kick off tomorrow night, November 15, with Tina Logan and continue with the last educational webinar on December 19, 2016.
Learn the Basics – Build your trading foundation
Gain insight – Daily updates keep you on your toes
Set Goals – Then MEET THEM
Become a Master – And never stop learning
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