Hubert Senters here.
Let’s take a look at BIO. This looks pretty good. It is above the turning line, the standard line and the cloud. And I’m doing this video on a Friday. You’re probably receiving on a Sunday. Anytime you can get a nice little test at the turning line.
And what I’m talking about test. There’s two outcomes for a test. Either it will come down here touch it and bounce off of it or to come down here and it will go through it. What you’re looking for is if it does break the initial test it will most of the time go to the standard line but not always.
So what you’re looking for is a nice little go below and then go back above. It’s almost like a moving average cross but instead of a moving average cross and waiting for that slowness to happen you’re just looking at a midpoint average.
You can use as moving average and just wait too. Let it pull down trade below that line and then close above it. Now, I have a trade that I call the slingshot trade where I’ll wait for it to pullback to the standard line. Touch the standard line and then close above the turning line.
I like that trading better but this one is even stronger the net because it’s not even willing to pullback the $544.
Mark Helweg is doing a special webinar this Wednesday, November 4th at 8PM EST on ”The Simple Way to Trade These Complex Market Conditions” It will be Wednesday. Hopefully we’ll know who the president is by then. I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
