Hey everyone. It’s Robert Roy founder of WealthBuildersHQ, and this edition of Trade with Rob, which is for November 5th, 2021. Let’s go ahead and take a look at the markets. First, keeping in mind that everything we look at today is for educational purposes only. Nothing is meant to be advice or recommendations. Alright. As we go in guys, and we look at the S&P 500, we’re going to get a drawing tool and here’s our V-bottom on the S&P, here’s our V-top on the S&P. Very, very nice. And we have burst out of that zero line, we’ve gone through 1, 2, 3 different fib lines already, Headed up to this fourth one right up here. Just amazing run on the S&P, it’s just day after day after day. We’ve got this great bullish move, right?

So with that, our candidate today is Apple. Earnings came out and it’s a little bit shaky on the earnings, they’ve had nice climb, nice gain ever since. Good move to the upside a,nd we’ve been before we’ve gotten above the zero, we made it up to the -.136 so we’re good to go. It broke out, came right back on the earnings. And then now, we pushed up again nicely today. We’re looking for a retest of that 150, And if we can get a retest of that 150, then where are we setting our stops and our targets up? Let me go set those up. And I’ve got them actually hidden, let me bring those in here now and then we’ll take a look.

All right. There they are. So here’s what we’re looking for. Let me zoom in on this and get us through just a little bit better view. So in an ideal world, I’m looking for some kind of retest of the 150 and the bounce to take the entry. If you take that trade right there, I normally like to take a minimum of two contracts as a minimum, because I want to scale out into two exits. If you can only do one or only want to do one, that’s fine, you just take the first exit. So our first exit is going to be 152.50. That’s target one. And we’re going to take one X of our two, X meaning contract, you can take one contract off there.

Your stop one, S1, which initially is for two contracts, it’s both. So if the stock moves up and hits, target one, we’re at a one contract. If it goes against us and moves down, we’re out of both contracts, right?

But let’s say that it moves up, hits target number one, what we’re going to do then is cancel that stop and we’re going to move our stop appear somewhere to just above breakeven. S2 for stop number two, which will also be one contract. This exit has already been filled, so our second target is right here, also one contract, so we’re looking at 156 as our upside on this candidate.

All right. So there you have it. What are we looking for? If we get the bounce and the move up, 152.50 and 156 are our exits our initial stop is going to be a 149. All right, there, you have it. Ladies and gentlemen, 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 at the next one. Bye for now.