Hubert Senters here.
Let’s take a look at Autodesk, ADSK. It’s obviously breaking down some more. You’ve had this nice little breakdown of this gap. And then it consolidated push lower.
It’s consolidating. Now, it’s pushing lower. So here is some decent support for this equity. I don’t think it’s going to hold but these are the points where it can potentially bounce off of.
$271-ish and then around the area of $259 and then after that it could potentially draw as far as $239 so how do you do this thing?
You never want to short, try to buy a fall in life. You also never want to short into the dead low in the hole.
We say short it at a dead low is like you’re shorting it into the hole and it’s going to bounce up with a gut your sucker trade.
So what you can do is zoom in here and you go from the most recent sell off from the beginning of the selling to the most recent end of the selling and you just do an ambush trade.
It’s pretty simple. All you’re going to do is you can go from that high to that low. And if it will bounce up into this and give you an opportunity at $285 to $287.
That’s going to be a potential good short so in other words you have to let it bounce a little bit too short.
Don’t just short it down here in the dead lows and hope or pray or whatever you want to chant to. And then continue that it’s going to go lower.
What you want to do is you want to wait for it. Be patient and let it bounce. Short into that bounce.
And then as it rolls over you have a better position. So it’s counter trend methodology in the overall strength of a trend.
So in other words if this thing is falling wait for the bounce like don’t just short it right down here.
Same thing if it’s going long vertical, up wait for a pullback buy here. Don’t buy it right here or right here.
Just wait for a nice little pullback to enter it at a discount. Or in the case of shorting you want to short it at a higher price.
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Good luck. Hope it helps. See you on the next video.