Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
MWW | RBB |PBO – Bullish Engulf | J-Hook continuation pattern setting up
SPY: T-Line™ & 34ema 1-hour chart watching closely
Here is what one of our members had to say yesterday: “Rick, just wanted to say thanks. This month I have had 3 wins and 3 losses, but the losses were very small and only 1/4 of the wins. First profits in months. I listen and note what you say and trade the plan. Yes, still making some mistakes, but really learning!”
-Mary V.
Good Morning, Profit Traders,
We have looked at $215.35 as support for a few days, and now that the T-Line has caught up, we will be using a combination of $215.35 and the T-Line to determine whether the Bulls or the bears are in charge of the market swing-trade direction.
Yesterday, the SPY closed down .38% forming a possible evening star signal. On a longer-term chart such as the weekly chart, you can see a possible Doji continuation pattern being built. Bottom line, we have resistance at about $217.05 and support at $215.35, and until we break out or break down with confirmation, we will continue to trade exactly the way we are, predominantly long and taking profits into strength.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
LABU | RBB |Bull Cradle
SPY: T-Line™ & 34ema bullish trend
Good Morning, Profit Traders,
It would appear that we’re in for more of this slow grind with very minor dips and very minor pops. If the Bulls can manage to keep the SPY above $215.35, the Bulls bullish chart and run pattern will stay intact, but below $215.35, we could now see price below the T-Line™. Price below the T-Line™ could be setting us up for a bullish pullback as long as the pullback stays above $212.50.
I am starting to see a few intraday signs of laziness in the market. Let’s not forget, the bearish engulf on July 15 is still intact, and although the close yesterday was higher, it is higher without a great deal of confidence. If we do start to see weakness, there is an excellent chance we see a retest of the T-Line™.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SCTY | RBB |Inside PBO | Bullish Harami | T-Line™ Trend Bullish
SPY: T-Line™ 34ema bullish trend | Market is very overbought
Good Morning, Profit Traders,
SPY resistance — $217.01; support — $215.31.
Yesterday, the Bulls were not able to pass through the recent bearish engulf nor was the recent bearish engulf able to push the Bulls down. The battle will continue to unveil a winner, and when the winner is chosen then the battle will be to confirm success.
Overall, the Bulls continue to control this trend, and even a minor pullback would be a bullish pullback. Here at Hit-And-Run Candlesticks and Right Way Options, we continue to post bullish trades with positive results. Here are a few of yesterday’s results: APPS 12.28% | TDOC 9.10% | IMMR 8.13%
We continue to search out long and short trades for our subscribers, and we focus on strong chart patterns, price action (candlesticks signals), support and trade resistance, trade planning and common sense.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
NMM | RBB |PBO Engulf | T-Line™ Trend Bullish
SPY: T-Line™ 34ema bullish trend | Market is very overbought
Good Morning, Profit Traders,
The Bulls still control the SPY but there are signs that the bull is tired:
- The range has narrowed over the last couple weeks.
- The Doji bearish engulf is a warning sign not to take lightly.
- Yesterday’s close was outside of the narrowing trend.
We are predominantly long and still looking for long trade positions while the market may be entering a bullish pullback phase. The $212.50-ish (23.6% Fib retracement) pull back would be positive for the SPY chart. The $209-ish area would be something we will have to watch as it would be getting close to failing major support.
We are predominantly long and still looking for long trade positions while the market may be entering a bullish pullback phase.
The $212.50-ish (23.6% Fib retracement) pull back would be a positive bullish pull back for the SPY chart. The $209-ish area would be something we would have to watch as it would getting close to failing major support.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
CLDX | Rising trend |RBB | Morning Star signal
SPY: T-Line™ 34ema bullish trend | Market is getting very overbought
Good Morning, Profit Traders,
Did you know that on June 26, SGY was a members trade idea or how about GORO, CDE, EXK on June 16, could you have made money on these stocks?
Not to take anything away from the bulls; they have dominated the run from June 28th. Friday’s closing candle was a clear Bearish Engulf which is a major warning sign and suggests caution. In the next day or so, if we see selling follow-through below Friday’s low ($215.31), we might want to look at $212.50-ish to $209-ish as possible support areas; both numbers are Fibonacci lines.
The $212.50-ish (23.6% Fib retracement) pull back would be a positive bullish pull back for the SPY chart. The $209-ish area would be something we would have to watch as it would getting close to failing major support.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
PAGP | Trending | 200-sma breakout | Doji Continuation
SPY: T-Line™ 34ema bullish trend | Market is getting very overbought
Good Morning, Profit Traders,
Yesterday the SPY closed higher with a gap and a clear Doji and the trading range of the last 14 days has become extremely tight and narrow. The current chart pattern and yesterday’s Doji could lead to nothing more than minor consolidation and more bullishness.
If the Bulls lose 215.40 the bears should be able to pick up 212.40 Which would only be to the 23.6 fib line, a very healthy bullish pullback.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
DSX | RBB | Bullish J-Hook Breakout
SPY: T-Line™ 34ema bullish trend | Market is getting very overbought
Good Morning, Profit Traders,
Based on the open it would appear that the near dark cloud cover on IWM might not see weakness as follow through, of course the day is not completely over.
The morning futures seem to be suggesting that the Bulls are not willing to give up the race to the top. If the Bulls were to allow profits to be taken and it looks as if $212.00 down to $211.00 would be all the Bulls might give up.
You might want to draw from the June 24 high to yesterday’s high and then from the June 26 low to yesterday’s low you will see that there is a definite narrowing and tightening of range, this could be a warning sign of minor profit taking/consolidation.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
TDOC | Bull Flag | Bullish Harami
SPY: T-Line™ T-Line is in a Bullish position with the 34-ema (profit taking setting up)
Good Morning, Profit Traders,
Another day, another dollar, and the SPY closed higher. There is no question that the SPY has entered overbought territory, and as of yesterday, no sell signal. We all know that price can continue to move higher in overbought conditions as well as move lower in oversold conditions. Being oversold or overbought is not a reason to buy a stock; on the other hand, price confirmation would be. And this is why the Hit-And-Run Candlesticks team is watching price action so closely for hints of: Not if a pullback signal is presented, but when a pullback signal is presented. If the signal happens this week, I would suspect possible support to be around $210.70.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
PRO| Bullish T-Line J-Hook
SPY: T-Line™ T-Line is in a Bullish position with the 34-ema (profit taking setting up)
Good Morning, Profit Traders,
Once again the Bulls demonstrated their strength in the SPY by closing at $213.40, higher than the previous close after a four-day run bouncing off the 50-day simple moving average with a Doji continuation pattern. Yesterday, the SPY ended up with a candlestick Shooting Star signal. The Shooting Star signal I have found to be, at the very minimum, a warning sign. Combine that with yesterday’s narrow range in light volume, and it might be prudent not to blow off the warning. Price is also extremely overbought compared to the T-Line™, another warning sign that profit taking may be near, not to mention the four-week new high-low ratio is pegged in the overbought area.
Okay, enough of that talk. Candlestick signals require confirmation, and as of yesterday’s close, there is no confirmation that the bears are taking any kind of control on the daily chart; although the 2-hour chart is showing a confirmed Shooting Star signal. The trend is currently bullish with a strong possibility of a profit-taking pullback soon.
This week’s events – For more information Click Here
HRC Public webinar Tuesday July 12, 8pm EST
Trader Vision users group webinar Thursday July 14, 8pm CST
RWO Members Webinar Saturday July 16, 11am EST
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
LPSN | Bullish trend break | Doji continuation pattern
SPY: T-Line™ T-Line is in a Bullish position with the 34-ema
Good Morning, Profit Traders,
Last week the Bulls put together a beautiful bullish J-Hook Doji continuation pattern that closed Friday at $212.65 about a $1.15 from the all-time high. The T-Line™ is now back above the 34 EMA for those that follow the T-Line™/34 EMA trend.
Last week the Bulls put together a beautiful bullish J-Hook Doji continuation pattern that closed Friday at $212.65, about a $1.15 from the all-time high. The T-Line™ is now back above the 34 EMA for those that follow the T-Line™/34 EMA trend.
A successful Bull close over $213.80 would give us a bullish direction toward $214.90 followed by $217.65, with the typical chart dance up-PBO, up-PBO. Judging by the emails I received from members, huge profits were made last week and the majority feel this week will be the same. Success comes from planning, following your swing trade rules and selling into strength.
This week’s events – For more information Click Here
-Trader Vision 20/20 Workshop Monday July 11, 4pm EST
-HRC Public webinar Tuesday July 12, 8pm EST
-RWO Members Webinar Saturday July 16, 11am EST
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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