Hubert Senters here.
Let’s take a look at Western Digital, WDC. So it had a pretty good day today. Just always confuses beginning trailer like that’s a red candle but it’s up.
Yes, that means it opened up here and close down there so it’s down from the open but it is higher than yesterday’s close.
I know when I started out like man, my mind is melting. I don’t understand. It’s very confusing. But it’s recent likely to understand.
Anyway, Western Digital is pretty good. Potential bracket trade for next week with a long above $60.64 and a potential short slightly below $55.37.
It’s not a perfect bracket trade because you do have a little price action there but it did gap up from the previous day.
One thing I want to walk you through though is when I see stuff like this. I’m going to call this a latter trade because it goes to the next wrong on the ladder.
So what you do is you look at a time frame in this example. I’m going to look at a weekly on WDC. And when you look at this and you go like the following.
You go from the dead high to the dead lows. If it close above this $76.99 area and it’s not there yet so we’re going to work our way here is what we’re thinking to $67.76.
It will give you a plenty of lead time on this to do this thing. If it was to close above $76.99 you would think like it may go to $106.
The actual place it’s going to go next will be $76.4 so I’ll make that white. So if it closes above $76.99 then its next overhead target will be $88.42.
I think it’s got a good shot of rising all the way to $67.76 and then we’ll see before then and after then. I kind of place it out but you got plenty of time.
And we’re going to call this ladder trade. Anything above $61 percent will then go to $76 on a ladder trade.
I almost forgot to tell you about Silas’ webinar on Saturday, January 30th at 10AM EST. Top Tools for Catching Corrections & Major Market Reversals.
I will HYPERLINK you to the registration form.
Hubert.
