Hubert Senters here.
One of my favorite trades to do on index futures is an open range breakout. You can do this on stocks also you can do it on cryptos.
You can pretty much do an open range breakout on anything. So here’s how I do it on the Dow. So I use a 2-minute chart right now to 1-minute so let me change that right now. It’s a 2-minute.
And then what I’ll do is all with the 2-minute just trade at the open and see which direction I think it’s going to go.
Now, before I do this I do look at the overall trend analysis first to figure out which way I think the market is going to go.
If I’ve got the the market pegged if the daily and the hourly are pushing higher my trade is probably to the high side.
If the daily and the hourly are pushing lower I’m going to try to focus on that but I can also over ride it because everyday is a little bit different.
And you could have a massive uptrend and today the market decides it’s going to take people’s heads off and go substantially lower. I keep an open mind.
So in this situation I let it trade for 2 minutes. And I usually have a little bar going on here and tells me how many seconds I’ve got left.
In a bar like this one right here it says I’ve got a minute and 53 seconds so this would be clicking off right at the open.
And I have it set for a gap chart on futures but futures don’t really have gaps anymore but I’m just doing an at YM.D so it opens up a stock market time.
Then all I do super simple. It’s almost like a bracket trade. Actually it’s identical to the bracket trade.
I’m going to bracket that 2-minute time zone right there. And then I won’t go on the first initial push. I’ll go on the second push.
So if you’re aggressive in that nature. That first little touch or close or just as goes through the $34,896.
If you’re aggressive get all over it. If you’re more conservative like me you’re going to wait for the second and maybe even the third one. I like the second one the best.
So I would go on this one right here long and then as you can see it went from $896 for a decent little scalp trade to the high side to about $34,947.
So a pretty good little move right there really quick and if it was to break the down side I would do the down side.
Now, I usually like to go in one direction. I don’t tend to go long and short in the same day. I do it from time to time.
But I think it’s a bad way to kind of intraday trade because you can’t get all the direction. You can’t be long, short, short, long.
If you don’t stand for something you’re going to fall for everything. I don’t want to fall for everything.
So I would initially do this first long and I would leave the short alone. If it went short I would go with the short and leave the long alone.
Silas Peters is going to be doing a special webinar on Price Actions Secrets To Follow The Big Money Footprints.
They’ve got one that’s happening right now at noon while I’m recording this video. After the one that happens at noon today they’ll update that and it will be the right date.
It’s July 27th Tuesday at 2PM EST. In order to register for the webinar all you got to do is click this button right here just CLICK HERE TO REGISTER.
Little pop up is going to get you. It needs your first name. It needs your primary email address. It needs you cellphone so we can either voice call or text you and go hey, webinar starting in 15 minutes.
Good luck. Hope it helps. See you on the next video.
Hubert.
