Hubert Senters here.
You’re probably watching this video on a Saturday. I’m shooting it on a Thursday because I’m taking off Friday. We go lake with the kids and the wife and the bunch of friends.
Oracle setting up to do a potential slingshot. I like giving trade setups cool names just because it makes easier to remember. It makes me easier to teach to.
So in this situation what we’re looking for here obviously Oracle is above the cloud. ADX is in good shape. And here’s basically why a slingshot trade is.
You’ve got a nice little uptrend and it pulls back to the turning line which is that first yellow line and then it touches the purple or trades below the purple. And then it trades back above both of those again.
So it’s usually back above the turning line here but they switched over. It still qualifies so it would be a long at around $80.47.
Now, let me take you a shot of what it’s done here in the past here. You can see below the yellow and the purple back above and you can see it went higher.
And then if we go back in time I’ll put in a couple of others to you. Here we go below the yellow and purple right there. That’s a good long. That’s a nice looking slingshot.
Now, past performance is not indicative future returns. It’s just a fancy way of saying. Hey, just because it did that in the past doesn’t mean that it will do it now or in the future.
But successful powerful trade setups leave clues like footsteps that you can follow and then place a good risk reward trade.
So if this stuff interests you and you like stuff like this I’m going to be doing a live webinar over there at Wealth 365. I’m one of their guest speakers.
I’m going to HYPERLINK you to this registration page. And I’m going to be teaching you three very powerful trading setups that you can find with three clicks of your mouse. Register right here. First name, email address and optional telephone number.
Good luck. Hope it helps. See you on the next video.
Hubert.
