VRS Setup and Trade Plan

Today’s Featured Trade Idea is VRS.

Members can join us in Trading Room #1 as Rick reviews the VRSsetup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

VRS has been in an uptrend well over a year. The most recent strong bull run lasted more than a month and has culminated in a little profit-taking J-hook pattern that bottomed out on a Morning Star type signal. I will be looking for a b/o and then a bullish move similar to what it has done in the past.  Note that there have been a number of 15-20% bullish runs in the last 18 months.

I will look for a b/o Entry with Stop roughly where indicated by V-Stop. At all-time highs, I will use Fibonacci Extension targets of 38.2% and 61.8%.

Trader Vision tells us that earnings are out of the way for a couple months. It also shows us that we have 4 Bullish conditions versus 2 Bearish conditions for this trade setup.

TV20/20 then tells us this trade plan can easily achieve our Trade Goal, well prior to even reaching the 1st Target price. If we do reach that 1st Target, the trade can deliver 12.62% or a 3:1 Reward/Risk. However, if we can sell half there and hold the remainder until the 2nd Target, we’d be getting 4:1 ($648/$162) Reward Risk for almost a 17% trade overall.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The VRS Trade Setup – As of 9-13-18

VRS Chart Setup as of 9-13-18

The Trade Plan

VRS Trade Plan for 9-14-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

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Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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GLW Setup and Trade Plan

Today’s Featured Trade Idea is GLW.

Members can join us in Trading Room #1 as Rick reviews the GLW setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

GLW has been in an uptrend since late June. After consolidating for a month, the Bulls have stepped back in the last few weeks. On Wed. it printed a Bullish Engulfing signal to test the July high. Above the b/o, there is not much previous overhead price action from the last several years that might prove resistance.

So, I will look for a b/o Entry with a Stop protected by 3 levels of potential Support. I will use Fibonacci Extension targets since there are no S/R levels for at least several years ago.

Trader Vision shows us that we should have 1.5 months until the next earnings. It also tells us this setup has 5 Bullish conditions versus only 1 Bearish condition. (Actually, it should register a Bullish signal, Bull Engulfing, as well, which would make the ratio 6:1.)

TV20/20 shows us that this Trade Plan offers a limited initial risk ($120) with the ability to make 2.65:1 Reward/Risk at the 1st Target price. However, if we can sell half the position there, move the Stop up (to reduce risk) and hold the remainder until that 2nd Target, we would achieve 3.5:1 Reward/Risk ($420/$120). Finally, TV20/20 tells us this plan can achieve our trade goal if GLW reaches $37.17 *+8.53%).

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The GLW Trade Setup – As of 9-12-18

GLW Chart Setup as of 9-12-18

The Trade Plan

GLW Trade Plan for 9-13-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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PZZA Setup and Trade Plan

Today’s Featured Trade Idea is PZZA.

Members can join us in Trading Room #1 as Rick reviews the PZZA setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

PZZA was in a long-term downtrend. However, in August, the Bulls stepped back in and have been forming higher-highs and higher-lows for a month or so. In early September, it also broke into a Rounded Bottom Breakout pattern only to promptly take profit on a slight pullback. Over the last 3 days, the bulls have stepped back in, holding the recent trend and breaking back up through the 50sma and a resistance level.

I will look for a positive trade Entry with a Stop tight below the most recent pullback candle bodies (possibly protected by the 50sma and the level just broken). Targets were chosen off a long-term chart (8-days) and the 2nd of these should be at the 200sma when we get there.

Trader Vision shows us that earnings are out of the way and we have a couple months until the next round. It also shows us that this setup has 4 Bullish Conditions versus 2 Bearish Conditions (Long-Term bias of PZZA has not turned Bullish yet and Short-term market pullback).  Still, this is an attractive setup.

TV20/20 then tells us that this Trade Plan offers us over 2.5:1 Reward/Risk at the 1st Target price. In addition, it tells us that if we had to sell the entire position at that 1st Target, we would achieve our Goal profit for the trade. However, if we can sell half at that 1st Target and hold the remainder until the 2nd Target, we would achieve a 3.7:1 ($517.50/$140) Reward/Risk for an overall profit of 11%.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The PZZA Trade Setup – As of 9-11-18

PZZA Chart Setup as of 9-11-18

The Trade Plan

PZZA Trade Plan for 9-12-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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THS Setup and Trade Plan

Today’s Featured Trade Idea is THS.

Members can join us in Trading Room #1 as Rick reviews the THS setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

THS has been in an uptrend since Spring. After a summer pullback, the Bulls have been running again in August. Then a short profit-taking J-hook was completed last week, ending in a Doji Continuation signal at the b/o level. On Monday, it printed another Doji just above the b/o.  I will be looking for a continuation of the bullish run, with an Entry near Monday’s close and a Stop set below a shelf of Support. Two targets are defined off longer-term charts.

Trader Vision shows us that earnings are out of the way and we have about 2 months until they come around again. It also tells us that this setup has 5 Bullish conditions and 1 Bearish condition (short-term symbol trend) in favor of this chart.

TV20/20 also shows us that this Trade Plan does provide us more than 2:1 Reward/Risk at the 1st Target. However, if we can follow this plan, selling half at that 1st Target and holding the rest up to the 2nd Target, we can achieve 3.36:1 ($498.56/$148.20) Reward/Risk. In addition, TV20/20 tells us that THS only needs to reach $58.86 in order to sell the positions and make our Trade Goal profit.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The THS Trade Setup – As of 9-10-18

THS Chart Setup as of 9-10-18

The Trade Plan

THS Trade Plan for 9-11-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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YEXT Setup and Trade Plan

Today’s Featured Trade Idea is YEXT.

Members can join us in Trading Room #1 as Rick reviews the YEXT setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

YEXT has been trending Bullish since April or May, with the last leg higher lasting a month before it did a little profit-taking pullback last week. After bottoming out and showing a lack of conviction in the selling, on Friday it printed a Trader’s Best Friend signal to test the b/o level of it’s J-hook pattern.  I will look for a b/o Entry with a tight Stop below and Fibonacci Extension Target prices. I don’t feel pressure to chase the trade as any breakout is likely to retest the $27.20 area as Support after b/o.

Trader Vision shows us that earnings should be out of the way for a couple months. It also tells us we have 4 Bullish Conditions and 2 Bearish Conditions (the short-term pullback in overall markets and the profit-taking in YEXT itself).

TV20/20 also tells us that this Trade Plan offers very limited risk ($135) to the Stop on a b/o buy. In addition, it shows us that we can reach our Trade Goal just above the 1st Target. However, if we can sell half at Target #1 and hold the remainder until the 2nd Target, this plan offers us 3.28:1 Reward/Risk with a $442.50 profit.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The YEXT Trade Setup – As of 9-7-18

YEXT Chart Setup as of 9-7-18

The Trade Plan

YEXT Trade Plan for 9-10-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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No Setup and Trade Plan Market Uncertainty

There will be no Featured Trade Idea today.  It’s Friday (Pay Day) anyway…when traders should be looking to book profits and take off risk ahead of the weekend.  Couple this with current political turmoil (normal political discord, Kavanaugh Nomination Hearings, the Woodward book, talk of the 25th Amendment…AND the possibility of the President unilaterally implementing another $200 Billion in Tariffs on China.  Then top it all off with the Indicies being in a short-term pullback, but sitting at potential Support.  This all adds up to there being no good reason to chase any more trades going into the weekend.  So I will be managing current positions and looking to take profits or reduce risk exposure where I can today.

Members can join us in Trading Room #1 as Rick reviews the markets and any of your charts at 9:10am Eastern.

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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PSTG Setup and Trade Plan

Today’s Featured Trade Idea is PSTG.

Members can join us in Trading Room #1 as Rick reviews the PSTG setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

PSTG has been in a bullish trend since early March of 2017. After a summer downtrend, it resumed a strong rally in August, taking a small amount of profit after the big pop. At this point the Bulls have resumed control and broken out of the consolidation/J-hook type pattern.

On Wed. PSTG put in a very long-legged Doji which shows good strength relative to the QQQ and NASDAQ charts. I will look for an Entry about where it closed, using Fib. Ext. target prices at these all-time highs. My Stop will be just below a shelf that was recent resistance and support.

Trader Vision shows us that we have 2.5 months until the next earnings report. It also shows us that this chart is displaying 5 Bullish Conditions versus no Bearish Conditions. This makes it a nice Chart Setup to consider for a trade.

TV20/20 also tells us this plan gives us only $127.50 in “Risk to Stop Out” while also having the potential for $307.50 in profit at the 1st Target price. This is a respectable 2.41:1 Reward/Risk ratio.

However, if sell half at that target, move up our Stop and ride the remainder up to the 2nd Target price, overall we can achieve a 3.26:1 Reward/Risk ($416.25:127.50). This would make for a trade with over 10% profit potential.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The Trade Setup – As of 9-5-18

PSTG Chart Setup as of 9-5-18

The Trade Plan

PSTG Trade Plan for 9-6-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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GLUU Setup and Trade Plan

Today’s Featured Trade Idea is GLUU.

Members can join us in Trading Room #1 as Rick reviews the ODP setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

GLUU has been in an uptrend since early 2017. After a profit-taking pullback in July, a strong rally resumed in August. For the last 1.5 weeks, it has Consolidated in a tight box, creating a Pop-Out-of-the-Box Setup. (It also printed a Morning Star signal a few days back during this consolidation.)

I will look to Enter on a b/o of the consolidation with a Stop tight below the box. Targets were defined off an 8-day chart and the first Target happens to align tightly with a 61.8% Fibonacci Extension of the most recent leg of the rally run.

Trader Vision tells us that earnings are out of the way and we have about 2 months before they come around again. It also tells us that we have 6 Bullish conditions and no Bearish conditions in this Setup. This makes for a potentially very attractive trade.

TV20/20 then tells us that using this Trade Plan, we can take a position size just under 3% of this account and still keep our “Risk to Stop out” at $152. Using this plan, we would get 2.37:1 Reward/Risk at the 1st Target ($360/$152) and could achieve our Trade Goal if we had to sell the entire position at that point. However, if we can sell half at that price (to lock in profits) and ride the remaining half to the 2nd Target, we can achieve an overall 3.32:1 ($504/$152) Reward/Risk. Of course, we would have moved our Stop Loss higher by that point, which would reduce the Risk even further.  This all makes for a very attractive Trade Plan.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The  Trade Setup – As of 9-4-18

GLUU Chart Setup as of 9-5-18

The Trade Plan

GLUU Trade Plan for 9-5-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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ODP Setup and Trade Plan

Today’s Featured Trade Idea is ODP.

Members can join us in Trading Room #1 as Rick reviews the ODP setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

ODP has been in a Bullish trend since early April. After pullbacks in June and July, the Bulls resumed a strong rally throughout August (with a short consolidation for profit-taking along the way). Over the last week, ODP has taken profit again (forming a nice little Flag pattern) and then on Friday it printed a Morning Star signal.

I will look for an Entry above the highs of the last week with a Stop at Friday’s low (below Support). Targets were defined off the Weekly S/R levels and confirmed by Fib Ext. of the August Bull Run.

Trader Vision shows us that earnings are out of the way. It also tells us we have 6 Bullish conditions versus only 1 Bearish condition (the pullback last week) in the Setup.

TV20/20 then shows us that this plan will give us over 2:1 Reward/Risk at the 1st Target. However, if we can sell half at Target #1 and hold the remainder to the 2nd Target, we can achieve 3.5:1 ($500 / $143) Reward/Risk on a nice 13.46% profit trade.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The ODP Trade Setup – As of 8-31-18

ODP Chart Setup as of 8-31-18

The Trade Plan

ODP Trade Plan for 9-4-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

***************************************************************************************************

Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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HZNP Setup and Trade Plan Be Careful - 3day Weekend Risk

Just be careful taking any new trades today.  We are going into a 3-day weekend with the market showing some weakness at all-time highs.  We also have volatility-inducing headline risk with the President threatening $200billion ins new Tariffs on China as soon as next week, but also claiming we are very close to a trade deal with Canada (who he says will be forced to sign a deal very soon).  In that environment, 3 days where you are unable to adjust trades could seem like an eternity.

That said, today’s Featured Trade Idea is HZNP.

Members can join us in Trading Room #1 as Rick reviews the HZNP setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

Bear in mind, the market is toppy at all-time highs. We also face a 3-day weekend with Intl. Trade fear and (posturing via media and Twitter). That headline risk on an already nervous market looking to maybe take profits makes ANY trade more risky now. Trade at your own risk.

That said, HZNP shows a nice setup. It’s been trending bullish since May and after a 2-week consolidation it looks like it has found support off a 23.6% Fib. Retracement. On Thur. it printed a Bullish Engulfing signal of a Doji. I’ll look for follow-through above the pre-pullback high closes. My Stop will be just above the recent Support and my 1st Target will be the alignment of Weekly S/R and a 38.2% Fib. Extension.

Trader Vision tells us that earnings are out of the way for over 2 months. It also shows us that we have 5 Bullish Conditions versus 1 Bearish Condition (short-term pullback or consolidation) in favor of the setup. In addition, it tells us we have plenty of liquidity on this ticker.

TV20/20 also shows us that this trade plan can achieve our Trade Goal even prior to reaching Target #1. However, if we did reach the 1st Target, we could sell the whole position for $450 profit, achieving a 3.31:1 Reward/Risk. If were able to sell only half there and hold the rest until the 2nd Target, we’d get 4.28:1, booking $582 in profit and netting a 13.9% overall trade.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The HZNP Trade Setup – As of 8-30-18

HZNP Chart Setup as of  8-30-18

The Trade Plan

HZNP Trade Plan for 8-31-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you…

 


Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. –Joan G

 

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Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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