Price Action Setting Up Above The T-Line Bullish buy above $5.26 and a stop below $4.90

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Price Action Setting Up Above The T-Line

Price action is set up above the T-Line.  As you can see in the past 12 days price action has swung from above the High T-Line Band down to the Low T-Line Band and now broken out above the green V-Stop dot. The past three bars are resting for the next profitable leg. GOGO is a beautiful (RBB) Rounded Bottom Breakout with almost 50% profit potential to the 200-SMA. Bullish buy above $5.26 and a stop below $4.90

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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SPY Evening Star

Yesterday the SPY ran into a roadblock and threw us an Evening Star that suggests a few days of a sellers party. Let's keep in mind the trend is still pretty much intact, and I see the morning futures are trying to regain lost ground from yesterday. The day before yesterday price finished above the T-LineH and yesterday started below the T-Linh and finished below the T-Line Low. On the positive side, the recent candle lows can act as support, and we have gree V-stops below to help with support. On the dark side, we are looking at an Evening Star, the Star in a lower high. We seem to have a few pieces to the puzzle, but a few more are needed. My goal today is to protect my positions with stops, go to the back on some and maybe close losers. Could be a pretty cold wet day out there today, may just pass on hunting today.

****VXX – Yesterday printed a Bull Engulf, the morning futures today is trying to take it back, could be a fun battle today.

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Past performance is not indicative of future returns

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020, Top Gun Futures or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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