Shorting The Blue Ice

In tonight’s e-Learning 8-29-2017 we will discuss the current state of the market, and Finding and trading the Blue Ice Short from the 50-SMA to the 200-SMA.

The recipe for a winning trade is to follow your plan and the best tools for you. We feel a few of the best tools are: Price Action, Candlesticks, Support and Resistance, Trend Lines, Chart Patterns.

Thank you, Ed Carter

For taking an idea and making it work. Ed created a PCF scan for TC2000 that I have been using to narrow my search and look for a specific chart pattern. Sorry, it’s not the Golden Goose, you still have to do the work.

►Shorting The Blue Ice – TC2000 Code

This scan looks for a stock that has failed the Blue Ice (50-SMA) with the idea of follow through to the 200-SMA. Note there is a high probability of minor relief rallies.

ABS(XAVGC8 – AVGC200) / XAVGC8 > .10 AND

C > AVGC200 AND

C < AVGC50 AND

C > 10 AND

( (H5 > AVGC50.5) OR

(H4 > AVGC50.4) OR

(H3 > AVGC50.3) OR

(H2 > AVGC50.2) OR

(H1 > AVGC50.1) )

►Shorting The Blue Ice – TOS Code

#Blue Ice Failure 

# Written by Rick Saddler 

# Converted to TOS by Ed Carter 

def XAVGC8 = ExpAverage(close, 8); 

def AVGC50 = Average(close, 50); 

def AVGC200 = Average(close, 200); 

def C = close; 

def H = high; 

# 

plot BlueIceFail = ( 

AbsValue(XAVGC8 – AVGC200) / XAVGC8 > .10 and 

C > AVGC200 and 

C < AVGC50 and 

C > 10 and 

( (H[5] > AVGC50[5]) or 

  (H[4] > AVGC50[4]) or 

  (H[3] > AVGC50[3]) or 

  (H[2] > AVGC50[2]) or 

  (H[1] > AVGC50[1] )) 

); 

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

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