Rick’s Featured Trade Ideas

WMB/Long |RBB| Support | 2-day Engulf | Inverse H&S | Bull “W”

WMB| Plan your trade & trade your plan | May 17, 2016
Possible entry plan idea:   Buy box $19.02- $20.68
Possible stop plan idea:   Protective stop below $19.02
Swing trade playground:  $19.02- $29.50 = 54%
Playground risk reward: 5:1 + depending on | entry | exit | stop

SPY:  T-Line ™ chart suggest the sellers are in control.
7:00 am:  The SPY ended up closing over the T-Line™ yesterday up .99% tagging the 20 – SMA and helped to confirm yesterday’s higher low.  The Bulls seem to be doing a great job keeping us above the $203.88 low and holding us around my very important $207.00 area.
One of my favorite charts is the 4-hour chart, so let’s take a quick look at it.  Yesterday’s close remains in the shadows of lower highs; the T-Line™ and the 34-EMA are both below the 50-SMA.  Even with yesterday’s bullish move, the sellers still have control.
For the traders out there that follow volume, you probably already know yesterday’s volume was relatively low on the bullish move.

Apple might’ve been the driving force yesterday keeping the market elevated as Apple gaps and closed up 3.71% above the T-Line, basically from an announcement that Buffett is taking a position.
Bottom line, we’re trading both long and short positions realizing the market is just toying with us as it moves sideways in a tightening channel.

Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick
IWM:  T-Line™ chart |Below 50-sma
SMH:  T-Line™ chart |Triple stack down
IYT:  T-Line™ chart |Triple stack down
VIX: T-Line™ chart | MA inverse head and shoulder
USO:  T-Line™ chart | Tri-trend
UUP:  T-Line™ chart | Bottom construction

Each day 10 -15 stocks are 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.
To see all of today’s trade ideas Click Here

2-sma > T-Line™ = Minor trend up
T-Line™ > 34-ema = Intermediate trend up
2-sma < T-Line™  = Minor trend down
T-Line™ < 34-ema = Intermediate trend down

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.