Exploded With Price Action

MTRX – Challenged the September 27 high with an inside Pop Out O the Box pattern then exploded with price action. After a few days of consolidation and support, the current price action may now be ready for the next leg. Yesterday’s candle opened even with the previous days close and closed above the previous days open. The T-Lines and the 34-EMA have been trending very well. We love to see the candles stack.

Good Trading – Hit and Run Candlesticks

► Members’ Trade Idea Update (CAKE)

On October 18 we shared and covered in detail the technical properties of CAKE, today the profits would be about 9% or $396.00, with 100 shares. CAKE broke through the Dotted Duece yesterday in a Rounded Bottom Breakout pattern/strategy.

► Eyes On The Market

(SPY) No stinking missile is gonna mess with this market! The SPY • S&P500 closed at another new high. The SPY broke out from a Pop Out Of the Box patterns as it held above the T-Lines. Every day we have given me opportunities to trade great looking charts, it’s how we manage them that matters. As long as the bull keeps serving up perfectly cooked steaks, we’ll keep eating well.

Rick’s trade ideas for the day – MEMBERS ONLY

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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.

Learn how and what we trade: The T-Line • T-Line Bands • Support  • Resistance • Buy Box • Volatility Stops • Price Action • Candlesticks • Profit Zones • Entry Zones • Protective Stops