Now What?

The market (SPY), Mr. Powel and the Fed have spoken; now what? Simple we do what we do every day examine high probability chart setups for a money-making swing trade. For a bit yesterday the SPY was under the seller's spell, but the buyers snapped out of it. Yesterday’s long wicked candle found it’s low on the Volatility Stop indicator we use and then popped closing at $300.10. Overall the SPY and SPX are working to break the spell of the July High. “If” the buyers can get through the July high, they could walk the walk to about $308.00. While the T2122 chart is reading overbought price remains bullish at yesterdays close with 2 of the 3 Bands trending up and price action above the T-Line.

SWING TRADING THE T-LINE: Swing trading the T-Line is easier than you might think. If you are in a long trade, stay long until the price action closes below the T-Line. If you are in a short trade, stay short until the price action closes above the T-Line. It’s as simple as that, but of course, there are many other factors to take into consideration if you want to be successful. Swing trading the T-Line isn’t black and white. The proper way to trade the T-Line is to combine everything you know about trends, support/resistance, candlestick signals, chart patterns, moving averages, and any other indicators. Elements to Consider When Swing Trading the T-Line – Read More

Favorite Charting Software

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The I path Series S&P 500 VXX Short Term Futures ETN. The VXX closed at another new low, and the past 2-weeks has shown zip for fear. A close above the T-Line, we would consider a T-Line strategy trade. Always trade with caution.

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For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. DOCU, TER, GWRE, SNAP, BURL, CPB, SPWR, STNE, ESTC. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

😊 Have a great trading day - Rick

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Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

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DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

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