Welcome everyone. This is Robert Roy, founder WealthBuildersHQ.com. Welcome to this edition of Trade with Rob, which is for November 17th, 2021. Now the market just closed up recently. We’re going to go ahead and take a look at it. And as we do, keep in mind that everything we look at here today is for educational purposes only. Nothing is meant to be advice or recommendations.

Okay. So we look at the S and P 500, and great V-bottom on the S and P ,great V-top as well. We had a nice push-up today almost to the all-time high we’ve reached. So, we’re not at an all-time closing high, we’re not at an all time high, but we’re pretty darn close today. So very bullish market overall. Okay.

Today’s candidate is Apple. So we had a trade on Apple not long ago that went against us. We had the gap down, we got filled, got taken out of the trade, I think that cost us 200 bucks for two contracts, two-something in there. But look what happened. Yesterday, we pushed up. Today, we opened up in a perfect spot today. It would have been the ideal entry had I pulled it out yesterday. Didn’t catch it yesterday. Saw it this morning, you know, 11, 12 o’clock, we had already taken the bounce, so I’m looking for now is a pull back to that 150 level. That really is the key, right? So I really want the pullback in the bounce from there.

And we don’t need to pull back all the way down to the 150, but we certainly need it down in that direction before we bounce and look to take the bullish entry there. And the way we take this trade, we’re going to lay out our stops and our targets. And let me go ahead and bring those in now.

So here are the numbers right now. If you remember with the drawing I just had on there just so three seconds ago, looking for some kind of pull back, 150.50 or so, just give me some pullback closer to it. Make our move back up and there’s the entry. Now we’re going to look to do this with two contracts, so our first target, target one, to one, we’re going to do one X – X for contracts. One contract is our exit’s going to be there.

Our stop, S1, is going to be at 149, and we’re looking at two X. We’re going to sell both of our two contracts there. If we make a move up, when we hit our first target, this stop goes away automatically because it’s an OCO. What we will do then is we will set target number two up here for the other half of the trade, one X for the other half of the trade, and we will put our stop just above breakeven. So if we get in at 150, we’re going to put our stop, if the stock gets back to 150.50, 150.75, 151, somewhere above where we got into the trade. All right, that’s the goal, that’s the setup, that’s the functionality that we’re looking for with this trade setup.

There. You have it. Let’s see how this one works. Hopefully you don’t get another gap against us in the market as we did the other day. So would that 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, take care, and I will see you in our next update. Bye for now.

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