Quickly identify and label Rick Saddler's 4 Patterns for Profit in your analysis
He's the founder of Hit & Run Candlesticks, and long-time trading coach. Rick Saddler has developed a system of 4 patterns based on his experience that can help you better identify winning trades. YOU can now quickly label and identify these patterns with Rick Saddler's Patterns for Profit Add-on for MetaStock.
The 4 patterns are these:
- Round Bottom Breakout (RBB) - This was designed to find charts with a high profit potential in the (RBB) Rounded Bottom trade area. When this trade is planned out and traded properly the rewards can be life changing.
- T-Line Squeeze - Rick found that the probability of price moving up and down and returning to the T-Line (Trigger Line) is extremely high. What the scan looks for is price closing below the T-Line or the price low below the T-Line. Also included in the scan is the 20. When price engulfs both the T-Line and the 20 SMA we have found there is a high probability of a T-Line Run as the T-Line and the 20 SMA are squeezed together.
- T-Line Bounce - The Trigger Line Bounce was designed to find charts that have rallied, then pulled back on profit-taking to near the T-Line. (Price can be below or above the T-Line by a small percentage). From here the trader should wait for a buy signal and the right conditions to make a trade, Rick Saddler calls that a T-Line PBO (pull back opportunity).
- Pinball Setup - This one is a relief rally trade in a downtrend designed for 10% plus profits. The scan looks for charts that have crossed where the price has been in a downtrend and under the T-Line () then reversed and has closed over the T-Line with the 34 Exponential Moving Average (EMA) as the swing target. Special note:There must be at least 10% between the T-Line and the 34 EMA and the entry should also be 10% from the 34 EMA.
Rick Saddler's Patterns for Profit includes:
- 1 template
- 1 Expert Advisor
- 1 Exploration
About Rick Saddler
Rick Saddler has been both a business owner, AND an employee. He had a dream to quit his day job and learn to trade the stock market.
Now, after 21 years of coaching and trading, he's living that dream. Rick also wanted to help others avoid some of the difficult lessons he learned along the way so he founded Hit and Run Candlesticks.
Rick shares what he's learned with others, every day in the Hit and Run Candlesticks live trading room. Most Importantly that you could enter a short-term trade with low-risk, grab your profits after a successful swing, and sleep well at night. His bottom line has become "simplicity equals success."