Rick’s Featured Trade Ideas

WIN/Long (Telecom) | J-Hook breakout | Doji back to support | Rising T-Line™
WB| Plan your trade & trade your plan | May 3, 2016
Possible entry plan idea:   Buy box $8.92- $9.55
Possible stop plan idea:   Protective stop below $8.64
Swing trade playground:  $8.92 – $11.95 = 33%
Playground risk reward: 15:1 + depending on | entry | exit | stop

SPY:  T-Line ™ chart is cracking
7:00 am:  As we thought yesterday, the trend continued to slide with the SPY closing down .56%  with a Doji close and now getting slightly oversold.  Yesterday’s oversold doji close is very near the 50-day simple moving average and recent price action support, not to mention the 23.6% retracement line.  So the likelihood of a short-term relief rally is highly probable.  The $207 area remains a very important roadblock for the buyers to get through.  Without $207, the sellers from the past couple of weeks remain in charge.

When a chart has been in the sellers house longer than it should have been and when it’s leaving behind a topping pattern, it requires more than just a one or two positive candle moves.  We should be very careful not to get tricked into head fakes.  One of the hardest things for us to learn as traders is patience — the patience to allow a pattern to form over a few days.  The foundation formation is what creates a bullish run — that is the foundation for a bullish trade.  As of the close yesterday, the T-Line chart continues to show that the sellers are in control.

Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick
IWM:  Daily chart |Above $112.72 bullish | Below $111.55 weak
SMH:  Daily chart |Above $54.32 bullish  | Below $52.48 weak
IYT:  Daily chart |Above $143.87 bullish  | Below $140.53 weak
VIX:  Daily chart | Above $15.78 bullish  | Below $15.14 weak
USO:  Daily chart | Above $11.08 bullish  | Below $10.85 weak
UUP:  Daily chart | Above $24.32 bullish  | Below $24.14 weak

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!
Members Only
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.