TRADING TIPS

TBIO Slingshot Trade

December 19, 2020

Hubert Senters here. Let’s take a look at TBIO for a potential slingshot trade. You may not know what a slingshot trade is. I like to name my trade set-ups just weird stuff. That is important for me to recognize what the set-up is. So what I’m looking for here is number one I want you to be above the cloud. Check. I want to you to be trending. Check. The ADX is above $20. And I want to mainly be really respecting the turning line and then I want it to come down to pass the turning line, touch or go below the standard line and then close back up above the turning line. Let me grab my ink pen really quick. So here’s what I’m looking for number one I want this thing to be above the cloud so check. I want the ADX to be above $20. Check. And then what I want to happen it’s obviously it’s above the turning line which is this yellow line. I want it to pullback below the turning line. I want it to touch the purple and then close back above the turning line so right in this area is where I want to potentially get long. So if we would have done this trade ideally perfectly right there then you would be long at $24.41. Now, on with that information we’ve got to figure out like where do we think this creature is going. So with that we will use a Fibonacci. One. Two. And three. Next targets are going to be obviously this most recent high is where I would go for so I would go for $27.92 first then $29, $32 and $33. Steven Brooks is doing a live on core presentation of his webinar on How to Generate Weekly Income with Options. Saturday, December 19th at 10AM. I will HYPERLINK you to the registration page. Good luck. Hope it helps. See you on the next video. Hubert.

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