Hubert Senters here.
Let’s take a look at GPS. It is rapidly approaching your first target of half a gap fill since its gap up on this bracket trading. Now, heads up, this is why ego is the enemy. If you asked me like hey, what do you think about this like it’s above the cloud. It’s probably going to go higher. That’s why ego is the enemy in bracket trades.
Now, if you’re doing different technical analysis and you’re going oh, it started to go above the cloud. It’s different when it’s non-news related when it’s news related like earnings or just a big old news announcement of some kind or you never know why they got but it’s using news announcements or earnings.
But if you let your ego get the best of you go yes, that’s above the cloud we should all be long. Well, heads up, it didn’t take out that long or you could modify that ruling. It’s above the cloud but also need another day to close above that most recent high. But anyway, your target of half a gap fill here is right there.
Let me do a little math for you. It’s probably already tagged it. They’re as close so there’s your half and your 61 percent retracement right there is a good first initial target. If you want to hold it I would probably use a stop-loss of around $27.94. Your next initial target is going to be $25.38.
I’m going to be doing a special webinar on risk reward ratios and why it really doesn’t matter how much you’re right or how much you’re wrong. The most important thing is the risk reward ratio. That’s really how you make money in this business. Click the big yellow button that says CLAIM MY SPOT NOW to register yourself for this webinar.
Good luck. Hope it helps. And I’ll see you on the next video.