Hubert Senters here.
Let’s take a look at CELG. Little bracket trade for tomorrow and heads up, the volatility is still alive and kicking. Nice little loose today. So the bracket trade for this week or particularly for tomorrow if we can get some more movement and heads up, we probably will.
A long above $98.10, a short below $96.45. Sorry I misspoke. So in this case scenario the risk reward ratio may not be great but you’ve got a little bit more clarity because it’s more of a sideways. I can see how the ADX is down here like $14.87. That’s not really great.
You want it to rise. It’s a lagging indicator ADX is unless you tweak it a little bit but if it breaks above that it’s got some overhead resistance at right there $98.98 so it’s not going to be a great trade with a lot of potential. And then if the short goes to fill this gap well then you’ve got about a $95.70 so you see I’m saying like it’s going to break here and go there.
It’s going to break there and then go there so it’s not a great risk reward ratio trade and the ADX is the low so you got to be careful then. But heads up, you’ve got to be careful with everything in the market right now so just heads up be careful.
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Good luck. Hope it helps. See you on the next video.
Hubert.
