Hubert Senters here.
Let’s take a look at a potential bracket trade that you’ll probably be able to pull off tomorrow. Obviously, target is gapping up. You can see it’s gapped a way above the price action from the previous day. So I’m doing this video a little bit earlier so it may not be a hundred percent accurate at the end of the day but you’ll get the gist of information.
A long above if it closes where it’s at right now $102.12 tomorrow or a short below $98.06. Now, if the short is the way to go I would target half a gap fill which should be about right here and then I would do target a full gap fill on the long side if you go above $102.12.
Let’s see if it’s ever been up there before. Not really. So then you just have to do a good old-fashioned good risk reward ratio that you’re cool with. So if you go a long at $102 and your stop is $98 you’re risking four points, you want to get it at least a 3 to 1, 5 to 1 or 10 to 1 so 4 times 3. You want to make at least 12 points on that trade.
MARK Helweg is going to be doing a special webinar on ‘’How to Crack the Code of the Market Wizards’’ Wednesday, August 21st at 8PM EST. I will HYPERLINK you to that registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
