Hubert Senters here.
If you’ve never used this trade setup you might want to take a look at it. It’s called an ambush trading. It’s basically just a pullback or retracement. Depending on what you’re trying to do.
So in this case scenario, we’re going to say this is the market that we’re trading and we’re going to know nothing past this point right there.
We had a gap up. It did a half a gap fill. It almost did a full gap fill. Pretty close. And then we’re trying to figure out.
Now, it’s going up. I want to get long on a pullback but only to a 50 to 61 percent in each pullback. So what we’re going to do is we’re going to look for a Fibonacci retracement.
We’re going to go from the dead low to the dead high. And if it pulls back and went higher I would adjust so let’s see how this plays out.
Pullback right here. You could nibble long here and flip it out. You could try it here a second time. Here’s the third time. This fourth one here really. It depends rule set and how you’re going to play.
If you’re going to do a trade below $61 then it validate it but if it’s a close below and it’s still good. You can see you got one, two, three.
I’m not going to count that one. Four different trade setups that gives you bounces higher. Take a look at it. It works on both longs and shorts. For the shorts it got reverses.
So for the shorts what you would do is you do it like this. You would go point one to point two and that’s your point one. This is your point two right here. And look there you’re short right there. It’s a great little trade setup. I really enjoy it and you might too.
I’ve been asked to speak at the Wealth 365 trading and investing summit this fall October 12- 17th. There will be multiple speakers over there. Make sure you get a ticket and fill it fast. I will HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
