Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
BOOT/Long |RBB| Doji Continuation
SPY:  T-Line™ Chart Down | Price deep into resistance

Good Morning, Profit Traders,

I was wrong!  I never would’ve thought that the SPY would have gone from $198.55 to closing yesterday at $209 54 without at least a pausing pullback.  All this week I have  expected this relief rally to stop turn and head back down to at least find a higher low or a double bottom at the $198.55 level.  It just goes to show you, keep your emotions and your forecasting out of the charts.  Yes we have been approaching resistance and yes we are in resistance, but this week I did not follow my own advice….. FOLLOW PRICE ACTION, support and resistance is nothing unless price says it is.  For some I think I may have to eat my hat today.

Yesterday’s close was on a bullish candle just underneath a two touch downtrend line, we are very overbought and we are very much in a resistance area.  Let’s keep her eyes on the price watching the candlesticks for clues of more bullishness or selling.

All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.

IWM:  T-Line™ 2-hour chart |T-Line™ trend still Bearish
SMH:  T-Line™ 2-hour chart |T-Line™ trend Bullish
IYT:  T-Line™ 2-hour chart |T-Line™ trend still Bearish
XME: T-Line™ 2-hour chart | T-Line™ trend Bullish
USO:  T-Line™ 2-hour chart |T-Line™ Today might give a clue
UUP:  T-Line™ 2-hour chart |T-Line™ trend Bullish
VIX: T-Line™4-hour chart |T-Line™ trend Bearish
Each day a trade idea list is posted in the members area that I believe are poised to move 10-20% (or more) within the next few days.  Please follow your trading rules for entry stops and profits. Remember to check for earnings!

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Keep your eye on the inverse ETF’s They trade well!
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 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