NMM Bullish Morning Star Presented

NMM – Last Friday NMM presented us with a Bullish Morning Star with multiple signs of support and the Lower T-Line Band. Note how the Star came off the Lower Band and Fridays price action closed over the Upper T-Line Band. The 4 and five days charts fit the (RBB) strategy profile with two profit zones before the Dotted Deuce and two before the 200-period moving average.

At 9:10 AM ET. We will talk about the technical properties of NMM 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.

► Must Read Trade Update (CVRR)

On November 8, we shared, and in detail, the technical properties of CVRR in the Trading Room, Friday the profits were about 27.8% or $360.00. Using simple rules and techniques to achieve swing trade profits. A traders lifestyle is worth the work.

► Eyes On The Market

Last weeks price action wasn’t much to brag about although the buyers were able to keep the sellers away for the most part. The Daily price bar closed as a Bearish Engulf, but we did close on support, so the battle begins. If the sellers can close below $266.30, the mid-December low may be in for a test. A push by the buyers with a close over $268.60 and the Bulls are on there way to challenge the $272.00 area

The VXX short-term futures started a dance last week so they need to be watched a little closer than normal. The past 9-day pattern is a bottoming channel with a Bullish engulf. The pattern needs to follow through so we will keep our eye on it.

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

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.

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