Hubert Senters here.
Let’s take a look at ILMN. You can see right there in the background there’s the symbol. Symbol is also up in the upper left hand corner and it’s not a perfect set up because the ADX is a little bit low. But we’re going to zoom in here and see if we can make this trade work for us.
So you got one close above the cloud here as of today. We do know we got no resistance at $246-ish right up here in this area. Let’s see what type of ADX reading we have. So, what I’m going to be looking for here is to see how the ADX is sloping down.
I actually want it to either be sloping sideways or slightly up before I can get in the straight. So we’re just going to note that it’s still sloping down and see how it’s going down, it’s trying to hook up a little bit. We’re just going to leave this one alone.
But we’re going to add it to our watch list of potential good trades over the next three to five days because this thing could turn force. A lot of times the ADX will be a little bit laggy. So what you can do is you can just cheat and all you do is cheat and go like it’s right here, go down like a 60-minute chart and you can see obviously it’s trading on a 60-minute chart.
You had a buy signal right back here a few days ago. It’s probably going to continue on. But I tend to like the trade-off of dailies when I’m swing trading.
So in this situation I’m just going to wait. But anyway add ILMN to your list of things that you may want to go long.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
