Hubert Senters here.
In the last video, we’ve talked about the little middle finger pattern. I call them market structure highs and lows and your eyes just gravitate to them.
The more reps that you look at seeing that stuff it will just pop out at you. The next thing you need to do now once you’ve identified those simple structures like low or high.
Then use a fib tool to do an ambush trade so if you say like this is a market structure low. And this is a market structure high. What we can do is I can go from here from this low or I can take that low.
That low to that high and you can see since that’s a low left finger, right finger and middle finger that will qualify. You have a nice little move to the high side.
And then when it pulls back in to this zone to the 50, 61.8 I’d want to bid long around $274 to $266. Now, you’re never going to get the dead accurate low so I think it’s fuel to try but if you’re going to knock yourself out, knock yourself out.
And what you’re doing is you’re looking for a market structure. High market structure lows and then draw those lines on there.
So then you can kind of make it fit wherever you need to in order to see if you’ve got a decent entry. So there’s a market structure low. Let’s see if this one will work.
From this low to that high. Look at there. Run up from here to there. Pullback. Then you can buy as it’s coming through with this way or going back up that way.
It’s a little bit more. I think you have a better advantage going through it to the high side versus just pulling it back on the down side because sometimes that will stop you out quick.
And then you can say okay, what about the next little move? I’m just going to remove this from there and then I’m going to say market structure low to this one right there and see where it pulls back.
They’re not always going to work. That’s what they call it trading and not guaranteed income generation with no risk.
In this area you’d want to be bidding in that area. It works for both on the long side and the short side.
In this situation what you would do if you’re going to do the short I’m using all the same charts so it’s not confusing.
We would go from market structure low or market structure high to market structure low. And we would just start here and in there.
And our short would be right here. It didn’t work because I’m just showing you the chart. But that’s how you look for that type of stuff and then that’s how you can kind of setup your entries and exit points.
We’re just using FREE indicators. The market structure high or low you can do that by just looking at the chart. Every platform I know out there has a Fibonacci retracement or extension lines so you should be solid for some decent entries and for some decent exits.
I’m going to be speaking at the Wealth 365 online event. I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
