Hubert Senters here.
Let’s take a look the Dow so this is Friday’s action. Obviously, I’m recording this Friday. You’re probably watching this Saturday. If you trade index futures you might want to try open range breakouts. They are very effective if you know what you’re doing.
Pretty simple to do too. The way I do them is I just go a 2-minute bar. I’m going to mark the high and the low of that 2-minute bar. And then when I get a clean break either the down side or the upside I will wait. Now, I may not always going to first attempt I tend to like going the second attempt because the first attempt sometimes would jump up in your face.
So try that. It’s an open range breakout. Works on all kinds of different stuff. All you’re doing is you’re given a fixed time when it opens. When that market opens so for this market it’s 9:30. I give it 2 minutes and then I go ok which way you want to go. Looks like you want to go lower and then I want to try to stay on that side as long as it possibly can.
Now, talking about patterns and setups Mark Helweg is going to be doing a special webinar on The Invisible High Dollar Pattern Wednesday, July 21st at 7PM. Click this big green button here and register for the webinar.
Good luck. Hope it helps. See you on the next video.
Hubert.
