Hubert Senters here.
Let’s take a look at MMM is the stock symbol 3M Company. Obviously, you’ve got one, two, three of the four bars or buys but the ADX is still going down to the $11.98. So I like the long the only thing I don’t like because I don’t like that the ADX is low and going lower so. I want to walk you through what to look for on it.
Number one, ADX on a daily kind of lagging. You can see that it’s starting to flatten. I would like to see it hooking up and going towards the $20 threshold. But you can still trade this thing and mitigate some of the risk. Heads up, you can’t mitigate anything. You can kind of make it a little bit lower but take all the risk out of things.
What you can do here is you can use a smaller frame. And here you can see on an hourly chart. This was a buy signal. That’s usually good for one, two, three, four, five. Three to five days. So you’re saying well, that’s great men I’ve already missed it, okay. So now all you have to do is use a smaller time frame like a 10 minute.
This is how I bring it up and let it rotate from this 10 minute buy signal back below and it will work that way and then back up. So you want –it’s already above, you missed it. Missed the trading let the trading come back around and then jump on it right before it closes slightly above that.
I’m going to be doing a special STATE OF THE MARKET ADDRESS after the Fed gets done with messing around with the market and we’ll be doing this Thursday, August 2nd at 7PM EST. Basically, we’re going to walk through the markets. See what’s making new up moves, new down moves. Look for new trend trades and ask and answer a lot of questions that you have about the current market situations. So I will see you there.
Limited space GotoWebinar only hold a thousand people I know. There’s probably several more than that register. It is a free webinar and I’m just going to be walking through what the market is doing in there to talk to you and answer your question. So Thursday, August 2nd. We’re going to scan the markets and discuss where the markets are and some steps we can take to trade them in the future.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
