MNKD – RBB J-Hook Breakout
MNKD has presented us with a double bottom followed by a rally into resistance. Consolidated then broke out and closed over the 200-FWL moving average. I would also like to note the tweezer bottom added a nice punch to the double bottom and the 3-day chart has drawn a Doji continuation pattern.
Good Trading – Hit and Run Candlesticks
Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.
►Trade Updates – Hit and Run Candlesticks
We sold ½ of out JNUG trade yesterday for a 13.
07% gain, and it looks like we are going to make more $$$. AMZN short is still working but nearing a level that may see a bounce, but will it be enough? X is trending the T-Line (nice) price is approaching the 200-FWL line, so consolidation is likely.
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► Eyes On The Market (SPY)
Yesterday, Monday, August 28, the Bulls found themselves once again in second place. Yesterday’s candle closed below the open and below our trend line and $245.90. With the weak futures, this morning it looks as if we are deep into the Bearish channel. If the Bulls can’t find a reason to become Bullish $239.50 could be tested. Interesting that $239.50 is the 23.6 retracement from the 2016 November low to the 2017 August high.
► What is a Trade Idea Watch-list?
A trade idea watchlist 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 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.
Rick’s personal trade ideas for the day MEMBERS ONLY
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Investing and Trading involve significant financial risk and are 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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