Consolidation May Be Ending
DISH – The month-long consolidation may be ending with the Bullish Morning Star yesterday. Yesterday’s Morning Start and the month-long consolidation is also above the $49.00 support line. DISH became an (RBB) setup on the 29th and may be ready to take the next step into the $54 plus area.
At 9:10 AM ET. We will talk about the technical properties of DISH with target zones, a couple of logical entries and a protective stop. We will also be showing our trade plan with risk/reward and money expected.
Good Trading – Hit and Run Candlesticks
► Must Read Trade Update (LB)
On October 9, we shared and covered in detail the technical properties of LB in the Trading Room, Yesterday the profits were about 33% or $1400.00, with 100 shares. LB broke out of a Rounded Bottom Breakout strategy using the 200-SMA as support and pushed it’s self-higher.
► Eyes On The Market
The Bearish Engulf yesterday in the SPY will likely cause a test of the T-Line today or tomorrow. As long as the Bulls can keep the trend intact, they will be ok, but it the bears can close price below $260.75 the bullish trend could be in jeopardy. The Bears found the QQQ’s and pinched them with a Doji Hanging Man with follow through. Price has now closed below the lower T-Line Band and the Volatility Lines. For the QQQ’3 the 50-SMA is looking pretty tasty.
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Learn how and what we trade: The T-Line • T-Line Bands • Chart Patterns • Support • Resistance • Patterns • Buy Box • Volatility Stops • Price Action • Candlesticks • Profit Zones • Entry Zones • Protective Stops
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.
Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.
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