Friday’s Bearish Engulf Suggest a Lower Low Today
Last week the price gods created a Bearish Shooting Star and a bearish Engulf at resistance in the SPY chart. Price on the 60-min chart has dropped below our volatility lines. The T-
Line has broken down through the 34-EMA in the 30-min chart.
I believe we are likely to see a bit more downside before a meaningful rally. I see an 85% chance price reaches $237.10 and a 75% chance we see a test of the 50-SMA.
We have opened the trading room to the public for both Hit and Run Candlesticks and Right Way Options From Ma1 through May 7, 2017. We kick off the mornings with Coach Steve Risner at 8:30 followed by Charts with Rick 2 9:10. Open session 9:30 -11:00 followed by Right Way Options from 11:00 to 1:00.
FREE Trading Room From May 1 through May 7, 2017 – NO Password Required Login Link: Trading Room Login Here
FREE Trade Idea – TZA
TZA – TZA has formed a Bullish Morning Stra on the daily chart and a Bullish Engulf on a 2-day chart. I am looking for a short term swing trade.
Charts to Learn From – MKSI
MKSI – Ran 14.07% after we posted it to our members that we thought it was a strong buy after it formed a Bullish Scoop pattern and price closed above our upper T-Line Band.
Members Swing Trade Ideas
We post to HRC members 10-15 swing trade ideas each day and post them in the member’s area of the website.
10-15 trade ideas below – for members only
What is a Trade Idea Watch List?
A trade idea watch list is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame. That time could be one to 30 days for example.
From that watchlist, we wait until price action meets our conditions for a trade.
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Campbell or this website is not financial or trading advice. All information is intended for Educational Purposes Only.
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