Hubert Senters here.
Let’s take a look at Starbucks. It got a nice little slingshot trade. If you don’t know what a slingshot trade is. It is this. I’m going to use my marker here so you want above the cloud you want above the turning line and the standard line. What you want to do is you want to go up pullback below the turning line go to the standard line and then close or trade above the turning line again.
So you’re above the yellow you get below the yellow you touch the purple and you come back up to the yellow and it slingshot prices higher. That’s the theory in general. You’ve got Starbucks trade here that you can potentially take for profit. We’re going to figure out a target by using some fibonacci price extensions.
It’s going to be pretty easy to do. Low. High. Higher low. Next target $123, $127 and $129. Mark Helweg is going to be doing a live webinar on The Invisible High Dollar Pattern Saturday, July 24th at 10AM EST.
In order to register for the webinar click CLAIM MY SPOT NOW first name, primary email address and optional mobile device so that we can text you and remind you.
Good luck. Hope it helps. See you on the next video.