Hello, and welcome to another edition of Trade with Rob, which is brought to you by WealthBuildersHQ.com, and is for Wednesday, that would be November 10th, 2021. Hope y’all are having a fantastic day. Markets are closed now just about 20 minutes or so let’s go take a look and see what we come up with. Keep in mind that everything that we discuss here today is for educational purposes only. Nothing is meant to be advice and/or recommendations. All right. So with that, let’s jump in.

So, boom, boom, boom. We’re looking at the S and P 500 first. We definitely are in need of a new fib. If we can get another rollover, preferably down to the eight moving average, we’ll look to redraw. I’m excited about that, that is for sure. We’ve gotten major support at this 4680 level right now, five moving average. There’s of course, the -0.5 which is, a Fitbit, right? And then we also have an ABC in there. The 1.618. Lots of confluence in there. We got a nice sort of roll over national pullback. Not concerned with it in the markets near all time highs right now. I do like the little rollover very, very much. I’d like a little bit further. I actually would love to see us pull back to about 46 3. That would be a great pullback, little violation of the eight and the bounce and we’ll be ready to rock from there. So overall S & P is doing well.

Today’s candidate is STX, so let’s go take a look-see at a little bigger picture. There we go. Here’s my V bottom. Great thrusting pattern up. Good, strong V-top 50 percentile pullback. Woosh! Explosion from there. We’ve been all over the place, including back to the .618, and this has been a crazy ride to the upside. So now that you’ve seen the fib, let me bring this in a little bit and talk about it. I’m going to actually scrunch down just a tad there. We’re going to grab the drawing tool yet one more time, and what are we looking at here?

So, you know, this candidate closed up here today. Yesterday opened up and pushed down to that 97.10. I would like to have caught this earlier today, it was a great entry. We’re looking at this one as a potential if we can make that move back down, not necessarily to the 97.10, but close to it, uh, with a wick and then bounce, I’d be very excited if we could see that happen.

If we take the entry on the bounce up to 97.10, our first stop will be at 96, and that’d be for two contracts, two X. And what I mean by two X? I’m going to do a two contract trade on this. And of course everything is for educational purposes. So we’re going to take two contracts on this. We’re going to put our target, target number one for one contract, one X, X is contract or Y whatever you want to call it, we’re going to get one contract out at the $100. If that happens at the stock, moves up and hits 100, that stop goes away. We’ll then going to set, target number two at 103.50 for the other one contract, and we’re going to set our exit just above wherever we entered the trade. If you enter it at 98, you’re going to get out of the trade if it gets out to 98.25, 98.50, 98.75 – You make that determination of where your stop is going to be. I just want it to be higher than your entry so you don’t give a whole lot back if it does go against you. So, that stop number two would be for one X, right? The last one contract. If we move down were taken out. If we move up, we get up to 103.50, and we’re automatically out of the trade. The trade is over. At that point, we lock in some good profits, right?

These trades have done extremely well for us. I’m very pleased with the results. If I pull over our tracking sheet, we’ve got one open trade right now, which is Apple. We took an entry on Apple on the 9th, which is the day I’m doing this recording. So we’re in at 150.50 We’re waiting for our targets. If we hit them, awesome. If we don’t, awesome. We’re not going to win on every trade. Overall, you can see the results back from May so we’re talking about from May to November, so not quite a full month then into November, we’re just getting started, but we’ve got to call in another two weeks or so before we make that full month off. But overall we’re doing extremely well. I’m pleased with it and there you have it. So ladies and gentlemen make it a profitable day, stay focused on the quest to becoming a great trader, keep crushing it. And remember, you’re just one trade away. If you like, what you see here, folks, go ahead and subscribe, ring the bell, leave a comment down below, help us out in the algorithms. If you really like what you see, it’s very much appreciated when you do right. And of course, make sure you track us down and follow us on all the other social platforms from Instagram to Facebook, to Twitter, we’re on all of them and we regularly post up them. All right there. You have it. Folks have a good one and I’ll see you in the next one. Bye for now.