Today’s Swing Trade Ideas

MCEP/Long (Energy Sector )  SX90/XLE led the way yesterday both with a hammer on January 14 and the follow-through has led them above the T-Line ready to cross the 20-period moving average.  MCEP formed a bullish piercing candle on December 17 followed by consolidation and a bullish scoop pattern.  Gapping yesterday and closing above both the T-Line and the 20-period moving average leads me to believe the next short-term swing target could be around $7.40 which is a 30% trade and another 30% on bullish follow-through to the 50- period moving average.

Possible entry plan idea:  Inside day or breakout of yesterday’s candle
Possible stop plan idea:   A close below $5.59

Good Morning, 

SPY:  It has been pretty obvious the market was waiting for the ECB announcement of the ECB-QE the last few days; so now what?   Easy, and back to thesame old tool that we use over and over, day in and day out — “The Chart.”

On the SPY chart, let’s look at the bad:  From December to now, we still have a bearish “M” pattern and lower highs that need to be dealt with, and price is still below the big three.  The good:  Three bar bottom with double bottom support, bullish piercing candle followed by a Doji sandwich continuation pattern and a Bullish Engulf close yesterday.

In the trading room, we have been watching the lower high downtrend line and the higher low uptrend line.  They are getting narrower and narrower and price yesterday closed between them.  At the end of the day, most traders are watching to see which trend-line is breached.

IWM:    The lower high trend-line is still intact just as the double bottom bullish piercing candle is also still intact.  It’s simply a fight between the buyers and the sellers and the winner will let us know the road to take.

This Week’s Economic Calendar—> Click Here

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In the members area you will find 10-15 trade ideas every day

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.

Symbols from TC2000

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.

VXX S&P 500 VIX Short Term Futures:  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.

TBT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control. This should change today, watch for a close over the T-Line.

US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control.

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.