Hubert Senters here.
Let’s take a look at ILMN as a potential bracket trade for next week. Now, also I have a question. I’ll grab and drink water because my throat sounds like a robot here. Give me a second. So one of the follow-up questions is from Dawn. What exactly is a bracket trade? Do you just buy the stock if it hits the long target point or trigger point? Yes and no or do you just sell it if it hits the short trigger point? Yes that’s what you can do. Now, you could do a complicated option if you wanted to and that is often an option you could do.
But for me when I’m doing just good old-fashioned bracket trades it’s just a long above this area and a short below this area so in this example, you can track this for next week so ILMN so you will have a potential long if you had an execution or a trade next week sometime above $312.55 and you could do — we call it a break bracket trade because you could put both of these trades on at once or you could just wait until the number gets it.
You could do an OSO or an OCO depending on what platform you use. They all call it something slightly different but it’s all the same thing. If I get filled here, kill this order. If I get filled here, kill that order so that’s all you’re doing. If you’re not that technological savvy don’t worry about it. Just wait until one of them hits.
If it hits $312.55 get long, place a stop in an open target. If it hits $304.94 short it with a stop and an open target and that’s how you do that type of thing. Anyway, add ILMN to your potential things for bracket trades next week.
On a side note Gold is in a nice little compression. It is probably going to break out. I think it’s going to break out to the high side so I’ve been long Gold’s for a while now. Here’s where I think it’s going to head. It’s going to go to $15.88 up to $16.97 that’s the area I’m trying to target. So I’ve been invited to speak at the Wealth 365 event so what I’m going to be going over is Gold Trading 101.
My favorite gold trading strategy that you can use as soon as the webinar is over so I’m going to teach you one set-up and teach you a couple little rule sets to kind of abide by and one trade that I like to do on a consistent basis so that you can do it in your account and see how you like it.
Good luck. Hope it helps. See you on the next video.