TRADING TIPS

ILMN Trade Plan with Targets

Hubert Senters here. Let’s take a look at ILMN. Nice big selloff today of $29. So if you look at this you had a bracket trade right here and then broke both down and up through that depending on how you handle that situation. So there is the up move. Here is the down move. So it went down before it went up. It’s been a long time sideways. Here’s the down move. There’s the up move and then another down move and today is the third down move. I would say that’s pretty bad. So it’s probably going to drop more when you look at stuff like this you have to be careful. You don’t want dead chase this thing. It’s going to drop like a stone a lot more in my opinion. Let’s figure out where the resting place is going to go. We’re going to go from the bottom to the top. I think it could drop another $22 points. It could drop from $300 to $276. Now, it’s probably going to bounce before it does that. Just remember this zone right here $300 to $276 like right around this area. I’m going to remove these lines and I’m going to remove this. And then it’s probably going to bounce. How much is it going to bounce? Probably 50 percent of what it sold off today. So then we reverse it. We go from the high to the low. And if we can get a short of anywhere at $344. It would be a good short in my opinion. You pretty most set-up would be like $344. Second best would be at the test of these lows. So those are the two areas. Now, I’m going to remove these lines so a shortable bounce to $332 to $344 so in this area. This is how I plan my trades. I go like this right here. I want to go from box to box. Area of interest to area of interest. And that’s how you plan it out. Now, if you’re going to do a breakaway you’re going to do something entirely different like short the lows and pray to God it works. Before you go Mark Helweg is going to be doing a special webinar Friday on ”How to Potentially Predict Big Swings in the Market Using Nature’s Own ”Golden Ratio.” I’m going to HYPERLINK you to the registration page. This webinar is Friday at noon. Good luck. Hope it helps. See you on the next video. Hubert.

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