Energy Is Hot Right Now
Energy is hot right now, and EQT has opened the door for us with a Rounded Bottom Breakout pattern. The gap a few days ago on heavy volume has now presented us with a Flag pattern sitting on price support and the 50-SMA. A bullish flag breakout could fuel EQT into the $57.00 plus area or 13-15%. We will cover more details about stops and entries in the HRC trading room. Live Members Morning Prep starting at 8:45 AM Est. With Steve Risner and Rick Saddler at 9:10 am this morning. members morning briefing
ADM 41% • IWM 13% • SHLD 57% • FOSL 11% • IWM 49% • CVEO 29% • GE 11% • ANF 56% • CREE 51% • FLO 3% • VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% •
SPY • A Big Week Ahead
AAPL reports tonight, and today the Feds start their 2-day meeting. Yesterday the SPY closed below the very important $265.00 line which gave the sellers more of an edge if the buyers can’t bring us back over the $265.00 the resent low area and more will likely get tested, $261.50 t0 $259.95. I know this chop go nowhere trading is getting aggravating and is tuff to trade at times. Price is getting close to a pivot point in the current triangle pattern, a break one way or the other is likely. For the past few weeks, I have heard predictions in favor of the buyers and favor to sellers. The truth is “Predictions” is a dangerous game to get into but when the market is directionless more and more predictions are made. Sometime we must stand back and wait to see the direction the wind is blowing. Overtrading never helps anyone.
The VXX chart is below the 50-SMA and sitting on the 200-SMA, the current candle price action has painted a Flag pattern.
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Candlesticks • Price Action • T-Line • T-Line Bands • Support • Resistance • Trend • Trendlines • Chart Patterns • Buy Box • Volatility Stops • Profit Zones • Entry Zones • Protective Stops • RBB Rounded Bottom Breakout Strategy • Pop Out of The Box Strategy • Pinball Strategy • Trade Planning, Fibonacci, Stoch/RSI
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Testimonial
I have been a member of HRC for five years, RWO for three years. I applaud the efforts of all coaches Rick, Doug, Ed and Steve (also fellow members) in helping me become a better trader than I was starting out and I am still learning. Doug reinforces the “Price is King” mantra every day since we traders tend to forget it in the midst of finding the next ‘sure thing’ indicator. Rick, will make us sometimes answer our questions to foster the thinking and quicken the learning process. Over the years, I have been in many trading rooms. I am here to stay. This room and its members are the best. Period!
Fred Narielvala
Investing and Trading involve 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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