SYMC Setup and Trade Plan

Today's Featured Trade Idea is SYMC.

Members can join us in Trading Room #1 as Rick reviews the SYMC setup and other Trade-Ideas at 9:10am Eastern.  For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

SYMC has been forming a Rounded Bottom for some time. On Tuesday it broke into an RBB pattern and is nearing a S/R level (seen on daily and weekly charts).

I will look for a b/o Entry with a Stop not far above the 50sma. The 2 Targets come from S/R levels seen on the Weekly chart and the 2nd will likely be near the 200sma when SYMC reaches that level.

Trader Vision tells us we have a month and a half until the next earnings. It also shows us that this chart setup offers 4 bullish conditions and 2 bearish conditions.

TV20/20 tells us that this plan will give us a 2.9:1 Reward/Risk at the 1st Target and a 4.6:1 Reward/Risk overall if we reach the 2nd target ($100/$460). It also shows us that the trade needs to reach just 30 cents above our 1st target in order to achieve our trade goal.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20.  As a bonus, if you click the green button below, you'll be able to watch a video of the chart markup and trade planning process.

The SYMC Trade Setup - As of 9-18-18

SYMC Chart Setup as of 9-18-18

The Trade Plan

SYMC Trade Plan for 9-19-18

Note how Trader Vision 20/20 does so much of the work for you.  Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions.  Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade.  It really takes the pressure off.  No guesswork.  No surprises.  No emotional roller coaster.

To see a short video of this trade's chart markup and trade planning, click the button below.

 

Put the power to Trader Vision 20/20 to work for you...

 


Testimonial

Trader Vision immediately simplified the process...immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover.  It then became easier to see what patterns were working for me and which were not.  It provided a much more relaxed and stress-free environment. -Joan G

 

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Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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