Hubert Senters here.
Let’s take a look at Home Depot. The stock symbol is HD. Nice little uptrend not too shabby with the market going up and down. Little craziness. This is a pretty neat place to hide. Let’s walk through a sample example of a trade that we would execute since it’s closing above the turning line so turning line is the yellow line. That number is $228.78 so the long would be initiated.
Now, you can use two different stops. You could use either $228.78 or $225.75. That’s going to be depending on your risk profile. Your first target is going to be this most recent high right there. That’ll be it.
Now we can also use Fibonacci extensions or projections by going one, two and then three. We’re going to take out this new high first $235 so ignore the $233 in our first play then $239, $244 and $248.
Mark Helweg is going to be doing a special webinar Tuesday October the first 1st. Many years almost over. ‘’How to Potentially Profit from Huge Market Moves without Predicting the Direction.’’ Click the big yellow button to register for the webinar.
Good luck. Hope it helps. See you on the next video.