Pushed Through Resistance and Tested
EGHT has pushed through resistance and tested the support with the trending 34-EMA following. On the 2 and 3-day charts I can see Bullish Morning Star type formations supported by the T-Line. The bulls could push EGHT to $22.00 plus.
Saturday, February 24th 5 Traders come together to share and teach. We still have seats available for the discounted pricing.
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►Listen to your Rules
Ok, I see a little price action trying to slip into the SPY chart but let’s not get excited until we have a trend reversal. Price has closed in the T-Line bands but not above the upper green band. The V-Stops are still pushing the price back. Once the there is a breakout of the upper green band and a supporting green V-Stop with a visual low high/low high we can talk bullish.
- Is there a Low High-Low High bottom?
- What is the 34-EMA doing in relationship to itself 20 -30 – days ago?
- What is the T-Line doing in relationship to itself 20 -30 – days ago?
- What is the T-Line doing in relationship to the 34-EMA?
- What is Price doing in relation to the T-Line and the 34-EMA?
►Learn Our Tools and Trading Techniques
On February 8, Rick shared SFLY as a trade for members to consider and how to use the trading tools listed below. Currently, the profits could have been about 24.5% or $375.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits.
Candlesticks • Price Action • T-Line • T-Line Bands • Support • Resistance • Trend • Trendlines • Chart Patterns • Buy Box • Volatility Stops • Profit Zones • Entry Zones • Protective Stops • RBB Rounded Bottom Breakout Strategy • Pop Out of The Box Strategy • Pinball Strategy • Trade Planning
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The VXX is still in bullish territory supported by price action, T-Line Bands and the V-Stop. 200-SMA is also nearby.
►Rick’s Swing Trade ideas
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