Hubert Senters here.
If you trade Index, Futures, Dow, S&P, NASDAQ , Russell this is one of my favorite Intra-Day strategy. Now, heads up, it takes some earnings to do it because you’re going to be scared when you do this.
First several times I did this I was scared to death doing this. What you’re going to do is you’re going to look for a low and then you’re going to look for a high and then you’re just going to draw a Fibonacci from this low right here to that high.
Now, I use a two minute chart. You can use whatever minute chart you want. I like a two minute. It will work on a five. It will work on a bunch of different timeframes.
Then what you’re looking for. Okay. That’s the low over there. That’s the high and then what I’m looking for is this right here. A nice little pullback. One tick inside that 50 percent retracement.
So in this example, I’m showing you $28,975. Now, here’s the scary part. What you’ll do is you have a pending order just setting there, waiting at $974. Okay. So right there. And then it comes here and it gets filled and it goes against you. But that’s what stops are for.
And then as it goes higher and if you don’t get stopped out and then potential roll out of this and pullback. Now, don’t let it go all the way against you unless it’s just that initial stop-loss.
For me, I usually use a hard stop up 20 points on the Dow and I scale out a half quarter and let a quarter run. Hopefully that will help you out. Heads up, you will be terrified the first time you do it.
Special webinar tonight at 7PM EST with Dan Pasarelli over at TradeThirsty. If you haven’t cracked the code on how to profitably trade earnings because I use to be registered like I’m registered even though I’m no longer registered everything is potential.
If you haven’t cracked the code on how to profitably trade earnings Dan has a really unique strategy for this so he’s going to be doing a webinar tonight on ‘’Dominate Earnings Trades with this Setup: How to Profit from Trading Earnings.’’
It’s Wednesday, January 15th at 7PM EST. Fill out the information there and register for the webinar. And then for me to show up tonight at 7PM either myself or Jeanette will introduce him and then he will do his webinar and then take questions at the end.
Good luck. Hope it helps. See you on the next video.
Hubert.
