Hey everyone. Welcome to another Trade with Rob, brought to you by WealthBuildersHQ.com. Keep in mind as we go through and look at our candidate today that everything we discuss is for educational purposes only. Nothing is meant to be advice or recommendations. Alright. So first thing we need to do is check out the S&P. Here we go. Good, strong, V bottom, phenomenal V top. I like it. Alright. We’ve pushed up, we came back down into the .618. We actually just tap danced for a couple of days on the .764 and have had an amazing recovery, we’re back above the zero line on the .764 on the, the S and P 500, which is fantastico. Very strong, bullish moves. Today was another great day, 33 points to the upside, that makes five days in a row that we’re bullish. Good, strong bullish thrusting pattern. So with that, let’s look at our candidate today, which is Adobe.

Good V-bottom in there. Nice overall thrusting pattern. Good pullback in there. We got back just about to the .236, which was great, and we popped back above the zero line real quick, came down. We came back above and failed – boom boom. Strong, move up, and went to the -.136, and then went to the -.272, even a little bit further with the .382 there, And then we pulled back. Really had no opportunity in here at all to take another zero line breakout.

Well, what’s happened? We broke out to the upside today. Bam. I like it. So this is what we’re looking for. You’ll notice that I’ve got a couple of lines drawn on the screen. I’ve got one red line, two green lines. Target one,, target two green lines. Red line is stop one. And let me explain to you what I mean by that. So what we’re looking for is, if we can get a pull back to that 631.64 level – now you’ve got to decide what that means…does that mean that it pulls back and bounces tomorrow intraday, or does it have to close at that zero line and bounce? You’ll make that ultimate call. And really it’s going to come down to what the pattern looks like, and what your risk profile, your comfort level is in that trade setup.

If we get the bounce over there, the very first green line is going to be our target one, and that is 643. You would sell one half of your position at that 643. We’re going to do two contracts is what I like to do on this as a minimum – multiples of two. “But Rob, I can’t afford two contracts. I don’t trust to do it with two contracts. I’ve got a small account, risk profile, whatever it is, I only want to do one. Can I do that?” Yes. You take the entire trade off at target one. Stop one would be this red line right here. S one, right? But let’s say that we actually do – We want it to, we make the move up and we hit target 1, 643, boom. Half the trade is executed automatically. You’re out of the trade. Good to go. You’re going to move your stop up to just above breakeven. So wherever you got in on the stock, just above there so that you’re not giving too much back If it does come back against you at that point, and then target two will be 656.50, and you’re going to sell the other half of your position there. So if you get out of one contract here, you’re going to get out of one contract here, and so forth. Okay. So there you have it, ladies and gentlemen make it a profitable day. Stay focused on the quest to becoming a great trader, keep crushing it. And remember you just one trade away. See all of you at our next update. Bye for now.