Hubert Senters here.
Let’s take a look at TRIP. Breaking out one of the biggest gainers on the S&P 500. I want to point out a pattern for you that if you have a little bit of technical knowledge or if you want to hire a programmer you can do it. It’s not that complicated. What you’re looking for here is a gap and go situation.
But it’s a gap, go, pullback and continuation. So what you’re looking for here is a gap up situation. You could do it through the downside to. And then what you will be looking for here is you’re going to bracket that trade. Let me do it with just a horizontal line here. Remove my ink. So there would be your high, here would be your low. So again, you have a gap situation.
There’s your high. There’s your low. And then it takes out that high of $48.03 that could be your first entry if you’re developing up a trading system or a scan for a pattern to recognize a potential breakout that you want to trade. And then as you can see it takes out that high and then it pulls back and then ramps back up. Okay.
So there’s three different signals that you can put yourself into here if you’ve got some skill with some programming trade station easy language, you can use the script on toss and stuff like that. Or like I said you can just hire a programmer to do it.
So this gap up situation breakaway from that most recent high at $48.03. Then if it goes up here and then you pull back and then it takes out that high which this will be the new high, right there $50.73. So you got one entry, pull back, two entries right there. Another thing you can do if you’re a little bit more skilled in your program knowledge.
What you can do is you can do a breakaway gap and then from that high area from this point, I want to point too so you can see breakaway high, pullback to a 50 percent retracement. So there’s four different signals for the same different pattern that you can kind of play with. There’s also free scanners out there that will scan for stuff like breakaway or a gap and go tap situation so you can look up those on Google.
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Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
