Looking At The 3-Day Chart
SND – The Bullish trend started in mid-August3. Looking at the 3-day chart price action is being supported by the September highs, the last 7 bars (3-day chart) has painted a Pop Out of The Box pattern. Bullish over $8.60 with profit target zones above.
At 9:10 AM ET. We will talk about the technical properties of SND with target zones, a couple of logical entries and a protective stop. We will also be showing our trade plan with risk/reward and expected profits.
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► Must Read Trade Update (EYES)
On December 4, we shared and covered in detail the technical properties of EYES in the Trading Room, Yesterday the profits were about 47% or $500.00, with 800 shares. EYES has been creating a bottom, after breaking out ran to the next profit zone. The PBO Bullish Engulf on December 1 kicked off the run.
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The SPY has worked hard to overcome the Bearish Engulf on December 4 and has done a great job. The recent pullback used the V-Stop, and the T-Lines have continued to trend. The 4-day chart has painted a Bullish Doji continuation pattern. As of the close, yesterday price action still suggests bullishness. The VXX short-term futures are trending down below the V-Stop and the Lower T-Line Band.
Rick’s trade ideas for the day – MEMBERS ONLY
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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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