All three, the Blue Ice Failure, Bearish h Pattern, Inverse ETF’s are proven and important tools and strategies we have in the Hit and Run Candlesticks trading tool box. The market is not always bullish and we traders need tools like this from time to time.
The Bearish “h” pattern looks like the letter “h” and is considered an uptrend reversal pattern. It forms as part of down trending price action. You might say that this is the upside down version of the Bullish J-Hook pattern. As price pulls back from a swing high, the key is to look for a brief rally with three or four candlesticks that have higher highs because this may be part of the Bearish “h” pattern. After this, price stops moving up and start moving sideways. The highs of the candlesticks in this part of the “h” pattern stay in the same price range. You can literally draw a box around the candlesticks that form the top of the Bearish “h” pattern. Price then starts to move lower and breaks down and out of the sideways price action.
Blue Ice Failure
Imagine someone falling through the ice, then trying to come back up to the hole they plunged through. On their way up, they bump up against the ice and then fall back down again. This is the analogy behind the Blue Ice Failure Pattern (a term coined by David Elliott).
In stock charting terminology, the Blue Ice is the blue colored 50-day simple moving average (50 SMA) and price is the subject taking the plunge. More specifically, price is falling, it approaches the 50 SMA and plunges down through it. Price finds support after the plunge and starts to rally toward the 50 SMA. Price reaches the 50 SMA area and tries to break up through it but bumps up against it and then falls back down again.
Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks or it’s associates should be considered as financial or trading advice.
T-Line Crossovers to Point Out the Start of a Trend | Video Replay
Video topic, T-Line Trading, and T-Line Crossovers. The T-Line will keep you on the right side of the trade if correctly. Keeping a long trade above the T-Line and for a short trade below the T-Line is a proven strategy. Adding moving averages, slower or faster to show a short term trend change will increase trading probabilities and as a result increase trading success. This is what makes the T-Line Crossovers very useful to the swing trader.
Trading successfully is challenging and at Hit and Run Candlesticks our focus is to simplify trading enough to overcome those challenges. We do this every day in our trading room.
5 Moving Averages in Video
T-Line crossing the 16-EMA
T-Line crossing the 34-EMA
2-EMA crossing the T-Line
3-SMA crossing the T-Line
Focus during the day is on trading and trading education
Learning about chart patterns – what are they and how do they work
Candlestick signals – which ones matter and which ones don’t
Trends – just how important are they
Trend lines – how to draw them, from where to where
Swing trading the T-Line is easier than you might think. If you are in a long trade, stay long until the price action closes below the T-Line. If you are in a short trade, stay short until the price action closes above the T-Line. It’s as simple as that, but of course, there are many other factors to take into consideration if you want to be successful. Swing trading the T-Line isn’t black and white. The proper way to trade the T-Line is to combine everything you know about trends, support/resistance, candlestick signals, chart patterns, moving averages, and any other indicators. Read More
Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks or it’s associates should be considered as financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service
This webinar cover recent members and featured trade ideas and a few trades for the upcoming weeks. Keep in mind that the FOMC meeting is today March 15, 2017 and the results of this meeting will impact all trades.
The overall market continues to show weakness with a sellers downtrend line still in place, the T-Line™ is still tracking below the 34-ema. AAPL just reported and is down after hours. The QQQ’s have been leading the market but could end up being bruised if AAPL starts to sell off.
A look at a few short trades because of the markets weak condition with the SPY testing the September low. If you were present at webinar you also received a good swing trade list of short and a few long ideas.