Hubert Senters here.
Let’s take a look at TTWO. Ticker symbol is TTWO. Take-Two Interactive Solution. It’s setting up to do a potential slingshot trade.
If you don’t know what a slingshot trade is it’s an Ichimoku set-up where you’ve got it’s obviously it’s above the cloud.
It has been above the cloud for a while and here’s what you’re looking at. Now, I’m going to show you one right here that worked out and hopefully this one will do the same type of thing.
See how it broke the yellow turning line here so I’m going to use a horizontal line and see where it broke right here.
It went below the turning line and then it went to the standard line two days later right there. So on this right here what you’re looking for is a break below the turning line.
Come down here and get neither really close or tag the turning line. Break below the turning line and go down here and trade act slightly above or slightly below the standard line which is the purple line. And then either close or trade up above it.
So what it will do is it will allow you a small pullback and then it goes slingshot the price higher so in this example the entry would have been around.
Let me give you this number really quick so you’ll know what it is. So you would have an entry around $165. Your stop would have been around $150-ish, $151.
And then obviously you can see it went all the way up to about $213. You need to take profits on the way up. So in this case scenario, your entry target would be as follows.
You’re going to go if it gets you’re already just a little bit late but that’s ok. It’s not terrible. You’re entry would have been right here at $175.
We’re going to make sure it goes back above the standard line too since they flipped off here on on this. We’re going to do an entry above $188.48 with a stop loss of $175-ish and an ultimate target of $211.
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Good luck. Hope it helps. See you on the next video.