One of Today’s Featured Trade Ideas
WYNN/Long (Resorts and Casinos) Because of Friday’s close, WYNN became a Hit-And-Run Candlestick Rounded Bottom Breakout. Friday also produced a type of bullish morning star signal as well as a Doji Bullish Engulf pattern.
I will be covering more on the trade plan (entry, stop, targets) in the trading room at 9:10 AM EDT today. Click here to learn more
Something to think about — A snippet taken from a soon-to-be-released
eBook prepared by Rick Saddler
Have a “Trading Business Plan.” Every successful business owner has a business plan. Since trading is a business, traders should have a business plan. There is a lot of information out there on designing business plans. A suggestion is to keep it short and simple. A one- or two-page business plan is sufficient for most traders. You can always add to it as you go along. The point is to have a business plan that is convenient and you will use as a reference for certain aspects of your trading.
WYNN Trading Plan (Entry, Stop, Target) Click Here
SPY: Use the May high of $213.78, draw a line downward along the tops. Then, using the July low of $205.53, draw a line upwards along the bottoms. You should now be able to see a symmetrical triangle being created with price action. A good rule of thumb is that price action inside the triangle is merely noise, and what we are looking for is a break out of the top side or a break down through the bottom. Based on the early morning futures, it looks as if we might play in the noise area.
IWM: Has IWM found support on the daily chart? Has IWM found support on the weekly 50 SMA? Traders that like to roll the dice will probably say yes; traders that have staying power and the most successful traders will say that we need to see bullish confirmation and that the lower high downtrend line needs to be broken.
SMH: SMH could be looking at a short-term relief rally this week.
IYT: If IYT can close above Friday’s low, I would have to say that the transports are trying to put together a bullish correction.
This Week’s Economic Calendar—> Click Here
Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits. Remember to check for earnings!
To see all of today’s trade ideas Click Here
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.
| Members only | Date | Long/Short | Try our Membership, Check out the Trading Room | |
| 8.6.15 | Long | BOPT above T-line | ||
| 7.30.15 | Long | BOPT above T-line | ||
| 7.29.15 | Long | Set stops/protect profits | ||
| 7.28.15 | Long | BOPT above T-line | ||
| 7.26.15 | Long | BOPT above T-line | ||
| 7.21.15 | Long | BOPT above T-line | ||
| 7.20.15 | Long | Protect profits | ||
| 7.17.15 | Long | BOPT above T-line | ||
| 7.16.15 | Long | BOPT above T-line | ||
| 7.14.15 | Long | BOPT above T-line | ||
| 7.13.15 | Long | BOPT above T-line | ||
| 6.23.15 | Long | Close on weakness | ||
| 6.17.15 | Long | BOPT | ||
| 6.12.15 | Long | Hit target | ||
| 6.11/7.1 | Long | BOPT above T-line | ||
| 4.28.15 | Long | Profit taking likely | ||
| 7.21.15 | Short | Short working | ||
| 7-8-14 | Long | short |
VXX S&P 500 VIX Short Term Futures: A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
Energy Sector: XLE, SX90, ERX, USO A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
SMH: A close above the T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
IYT: A close above the T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
US Dollar Index: UUP, DXYO A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. Learn more about the T-Line – Click Here
The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.
Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.
http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.
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