Hubert Senters here.
Let’s take a look at Micron Tech. Stock symbol is MU. Nice little breakdown with the rest of the index futures today. Got a little potential bracket trade here. I’m going to put the lines on the chart here.
The bracket high trade for next week obviously will be $45.94. The bracket short for next week $43.50. Now you have to decide if you’re going take a trade above one of those numbers or a close above one of those numbers.
If you’re long if you’re going to do short a trade below $43.15 or a close. That’s very important because you got to know what you’re doing before you execute these trades. It looks like it could potentially go down to $34 and change.
Right now, I want to caution you about trying to say oh, I think it’s we’ll go there. Let the market and the price action of the bracket traders tell you which way it wants to go. I can be totally wrong and it could close above $46 and rip through $52.
But if I have the preconceived notion that oh, it’s definitely going to $34 you won’t be opened up, open minded enough in order to actually trade the thing properly so keep that in the back your head.
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Good luck. Hope it helps. See you on the next video.