Trade Ideas October 16, 2014

Today's Swing Trade Ideas

Trade Management - Today is a day to manage the trades that you're in. The market, over the last few days has not been nice to most traders, looking for another stock to buy is not likely to help anything. The sellers are still in control. Price below the T-Line and lower highs.

My entry plan idea:   Brew a nice cup of coffee

My stop plan idea: Only after 3 cups

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Good Morning,

SPY: Yesterday we talked about the 23.6% Fibonacci line at approximately $186.50 and how important it was for the bulls to defend... this line in the SPY. Yesterday’s close ended up being $186.43, just shy of defending that particular hill. There is no doubt they will try, but if they fail, the 38.2% Fibonacci retracement line is near the $177 area, and that would be the next line of defense. At this moment at 7 AM Eastern, the futures are holding yesterday's low.

P.S.   Don't get sucked in without a strong reason. Successful traders have discovered patience.

IWM:   Another bounce day for IWM printing a bullish engulf on the 50% Fibonacci retracement line. Unfortunately, yesterday was another day where we closed below the T-Line. In all the indices as well as any chart you’re trading, after a prolonged bear run, a qualified and confirmed constructed bottom is required. One lonely bullish engulf does not qualify as a confirmed bottom.

Tip - any trading below the T-Line, the sellers are still in control. Therefore, be careful not to force trades to the long side.

This Week's Economic Calendar---> Click Here

Members Trade Ideas - Members Only

In the members area you will find 10-15 trade ideas every day

 

Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:

Symbols formembers only Date  Long/Short Try our Membership, Check out the Trading Room
10-14-14 Long Buy on positive trading
10-9-14 Long Buy on positive trading
10-3-14 Long Bullish Harami yesterday
10-2-14 Long Doji double bottom/ Bullish Engulf
9-30-14 Long Buy on positive trading/T-line run
9-25-14 Long Buy on positive trading
9-18-14 Long Buy over T-Line
9-5-14 Long Buy on positive trading
8-28-14 Long Buy on positive trading
8-14-14 Long Buy on positive trading/reversal setting up
8-13-14 Long Buy above T-Line/bullish engulf
7-8-14 Long Short on weekness

 

VXX S&P 500 VIX Short Term Futures: A close below the T-Line ™ implies the bearish short-term swing traders are in control, Yesterday's candle implies buyers are in control, consolidation likely very soon.

USO United States Oil Fund: A close below the T-Line ™ implies the bearish short-term swing traders are in control. The current candle signal implies indecision.

TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday's candle implies buyers are still in control, J-Hook breakout getting extended.

The above are just my thoughts to myself just thought I would share with everyone.

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.

Rick

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