Hubert Senters here.
Let’s take a look at Crude Oil. I’m doing the video on Friday. You’re probably watching this Sunday so taking for what it’s worth. This is a trade that I like to scan for a lot is is I call it slingshot trade. Here are the rules of said trade. Number one you want it to be above the cloud above the turning line above the standard line. If the ADX is above $20. That’s a bonus.
Then you want it to pullback below the turning line and head towards the standard line. The purple line is the standard line right there. You want to either touch it and then bounce off of it or it can trade below. That’s what I do. You want it to close back above the turning line and then back above the standard line so.
Just think it’s going to drop down to the purple and back above the yellow. It’s all you’re looking for. And if you’ve got a decent scanner you can scan for that stuff. Now, since that’s the trade setup you have two figure out these two rules really quickly before you do this trade.
So the line at the yellow line is the turning line and it’s at $73.87 right there. I’m trying to put my cross right there so right in that area. All you’re going to do is trade above so immediately as soon as it hit you’re going to get long or you’re going to wait for a close above. So if we we’re going to do this trade on Friday I’m recording on Friday you watch it on Sunday. If you did the trade above you would be long at $73.87.
If you’re going to do a close above let’s pretend that it’s closing right now even though it’s not because I’m doing the video at like 1PM. So it’s the difference between getting it at $73.89 versus $74.37 it’s not a big of a deal. Heads up, it could continue to go up here at $75. Sometimes it can make a big difference and sometimes it’s not that big of a deal so it’s really important for you to know what you’re doing and when you’re going to do it.
One of my business partners is also been ask to speak at Wealth 365 live online event. He’s going to be talking about explosive option strategies. His name is Mark Helweg. I’m going to HYPERLINK you to his registration page. First name, email address, optional telephone number and that will make sure that you can show up for Mark’s talk.
Good luck. Hope it helps. Have a great weekend. See you on the next video.
Hubert.
