Hubert Senters here.
Let’s take a look at IPGP came on my scans as something that closed below the cloud today. Now, this is a little bit different because usually when you’re crossing above or below the cloud the lagging line will be on the other side of it not the case in this situation.
What this means is it’s actually a little bit weaker than you think it is. So you can see ever since it broke below the cloud here. It had one day two or three days above two or three days above here but it’s been under pressure now it’s about to be under pressure again because it closed today below the cloud.
Now, the ADX is a little low $11.91. That’s a good thing if you’re trying to short thing. It tends to like let the price action drift a little bit lower. You do have some support right down here at $116 so it would be an aggressive short at $125.40 with a stop-loss of $131 and a target of $116. Okay IPGP.
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Good luck. Hope it helps. See you on the next video.
Hubert.
