Hubert Senters here.
Let’s take a look at Facebook. So we did some videos last week on Facebook saying where the targets could potentially go to on this momentum trade. And as you can see it’s broken down. It hit the first target at $162.72, second target was hit at $150.02 actually went a little bit lower than that.
Our next target is $120.28 and it looks like it’s going to bounce from here. So it’s time to cover and then re-short after this bounces over. Very important if you don’t know how to trade momentum you need to know and there’s handful ways you can do break out making new highs, making new lows and you got to decide when you’re doing momentum trades are you going to just do breakout trades are you going to wait for pullbacks.
For me, I tend to let the breakout happen and then after I recognize it then I will do either the retracement or the pullback. But it’s very important that you know how to trade momentum your specific way to keep yourself out of trouble because sometimes trading momentum can be counterintuitive.
It’s kind of like you ever played with a cat with a laser pointer and watch it chase and you’re like ‘’oh, it’s so easy, you’re so easy to manipulate,’’ that’s how traders can be manipulated into chasing markets. I don’t want you to be a cat chasing that laser pointer.
So a good friend of mine Mark and one of my business partners Mark is going to be doing a special webinar presentation on ‘’3 Momentum Strategies that are making big money in the markets with many recent examples’’ of how he’s been doing it.
His webinar is going to be Tuesday, March 27th at 8:00 PM EST and he’ll show you ‘’3 Momentum Strategies’’ that’s been working for him lately.
Good luck. Hope it helps. And I’ll hyperlink you to this page.
Hubert.
