Hubert Senters here.
Let’s take a look at a question from Sam.
Hi Hubert,
Can you chart ES retracement and your opinion on it?
Yes. I can Sam. Lets’s take a look. So overall it held pretty decent here so on the daily and the ADX is almost $20, $19.36.
So it make sense that it would bounce right here. Now, ideally you’d let it touch the cloud and then if it closes above the turning or the standard line that’s a decent buy signal.
And then what you’d be looking at is you have to go a high or low. You go one. Can’t do that. I can do this right here.
It’s going to have one, two and then three. That’s a tough one. Hold on just a second let me look at it.
Yeah. There’s several different ways you could do it. I’ve messed with it but it looks like this is going to be the best one.
So one, two, three. And then the next target would be $3,905. When I get close to the cloud here’s what I like to do, Sam.
I like to actually chill a little bit and get in on a smaller time frame so I’ll remove these and go. A 10-minute around noon was a buy obviously first thing in the morning.
If you’re a vampire you could have traded that one but around you know 11 o’clock-ish right in here, 11 to 11:30 that’s a good buy and you now have one, two, three bars above the 60-minute which means it will probably bounce for the next three to five days.
And then I can do a target off of what we were talking about earlier and that it will give me my target since it didn’t hit the cloud.
I hope that helps you out, Sam. That was a trickier one to do but we were able to pull it off. Thank goodness.
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Good luck. Hope it helps. See you on the next video.
Hubert.
