Hubert Senters here.
Back again when I left you yesterday we were talking about buying Netflix on a pullback on an ambush trade which is basically just a $50 to a $61 percent retracement. I know. I’m moving a lot of question does this work for Intraday chart? Yes. Works for Intraday swing and investment timeframe so.
Let’s pretend that we are being patient. We’re going to stock this trade and if you haven’t seen yesterday’s video just go back and watch it. So we originally were going to draw our low from here our high from here and then we’re waiting for this pullback to get long at $404. Anywhere from $400 to $404.
Let’s pretend we’re long that now and that trade has already entered and we have entered long here. Now what we’re going to do is we’re going to reverse those Fibs. Now, what we’re going to do is instead of going from low to high we are going to go from the high to the low where we’re going to enter and then that’ll project for us over here where our exit can be our first potential exit.
Here’s what this looks like so I’m going to do is going to make this our long zone. I’m going to put it right in here is our long zone so that we will know where it’s at. I’m going to remove these lines. I don’t confuse you. And now, all I’m going to do is I am going to go look this right here.
I’m going to go from this point which is the high down to that low point. And then once we get long I know the first place I want to take some profit is going to be for $414 to $412 so for $412 to $414 so know ot bad so if we enter this trading it goes our way and we don’t get stopped out we would enter around the $400 area and we would exit some of our position at $412 to $414.
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Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
