Hubert Senters here.
Let’s take a look at the markets so I’ve been sending you a lot of videos on Gold. I don’t want you to think that I’m running away from that.
Gold pullback it’s down $3. If you want to buy a pullback on Gold what I would do is I would do a retracement trade into the area. I would be a better at $1,912. You can also do this.
A Fibonacci retracement from the dead low to the most recent high and you see that lines up pretty close so two different orders $1,912, $1906 in that area right here at the two yellow lines or $1,884.
One thing I want to talk to you about today Qualcomm is a bracket trade. Bracket trade happens after a company has a gap of some kind that’s usually cause by earnings or somebody at the company did something right.
What you do on a bracket trade you go like this right here. You don’t trade it today on Qualcomm. You just let it trade. And you let everybody else kind of either make a lot of money or lose a lot of money so you got a lot of pent up frustration on this trade.
Now, if tomorrow which should be Friday. If I’m looking at the calendar correctly. If it trades or closes above $107.61 it would be a long with a stop of $100.51. So here’s how we’re going to do this in this example.
In other words if it goes above this right here, that’s a long signal. And this would be a stop. On the other case if it went down here this would be a sell or a short signal. Short with a stop here. Now, you got your stop-loss.
And then when you do stuff like this when you’re risking money usually what I like to do. I’m not trying to tell you what to do but I usually like when I risk a dollar. I’m going to risk $1. I want to be going for at least $1-$5 on the potential profit.
We got a pullback on Gold that you can take advantage and or you can do a bracket trade on Qualcomm. If you never did a bracket trade I’ll show you too that we recommended last week. INTC, Intel bracket trade here a break basically $49.72 going lower.
And then AMD which is its evil predator competitor. It was a long at $69.95. Right there it’s a decent long with a stop there and then obviously targets much higher so that’s how it works. You got two things to look at Gold and or Qualcomm on a bracket trade.
Hubert.
