Closing Above Upper T-Line Band Implies More Bulls Than Bears

Price closed above yesterday’s upper T-Line Band and just below the 50-sma @ $235.54. Closing above the upper T-Line Band implies more Bulls than Bears. From the April 13, low the Bulls have worked up 1.22%. Looking at the weekly chart, I see a Bullish Pricing candle followed by three inside candles and higher lows. $235.10 was an important number for the bulls, $236.50 followed by$237.80 will also be important for the Bulls to grab.

FREE Trade Idea – IPXL

IPXL – A Rounded Bottom Breakout Strategy, Bullish Inverted Head and Shoulder, PBO Bullish Morning Star, Support.

Spotlight Trade – IMGN

IMGN is up 101.44% from the time we alerted our subscribers, as a trader can you find the chart patterns and signals that could have worked for you? Start with the HRC - (RBB) Rounded Bottom Breakout.

HRC - (RBB) Rounded Bottom Breakout

NEW YORK (TheStreet) — One of my favorite chart patterns is called the rounded bottom breakout pattern. The pattern was introduced to me by candlestick analyst Rick Saddler, who also coined the term “rounded-bottom breakout.” Rick also defined the criteria for the breakout. Once you know what to look for, it is very easy to spot and can be entered into any chart software scanner.

In order to find such a pattern in your charts, plot them with the 20-day simple moving average, the 34-day exponential moving average, 50-day simple moving average and the 200-day simple moving average.
Once you have these moving averages on your chart, the breakout is very easy to spot. I also plot the 8-day exponential moving average or t-line.
The t-line isn’t needed to spot the breakout, but it is useful in choosing an exit point once you are in a trade.

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From that watch-list, we wait until price action meets our conditions for a trade.

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© 2007 - 2017 Hit & Run Candlesticks INC. - Right Way Options - Strategic Swing Trade Service - Trader Vision - All Rights Reserved. Terms of Service Investing and Trading involves significant financial risk and is not suitable for everyone. No communication from Rick Saddler, Doug Campbell or this website is not financial or trading advice. All information is intended for Educational Purposes Only.