Hey everyone. This is Robert Roy founder of WealthBuildersHQ.com. Welcome to this edition of Trade with Rob, which is for September 1st, 2021. Now keep in mind, as we go through today and look at our candidate, each and everything that we look at is for educational purposes only. Nothing is meant to be advice and/or recommendations. If you liked the video folks and you like what you see, go ahead and subscribe, ring the bell so that you can get updated to all of our content as it comes out. And here’s the various platforms. You’ll find this on, on top of our blog, which we’re adding to this now, it should be a next week’s update on our document here, but find us on YouTube, Facebook, Instagram, LinkedIn, Twitter, podcasts. Folks, we are all over the place, right? So make sure you’re subscribing to the various platforms.

All right, with that, let’s go look at the S and P 500 in the markets just barely closed by the half an hour ago. So let’s go see what the S and P did before we look at our individual stock.

All right. This vertical line is where the market closed yesterday and open today, right? So we opened up with a bang, straight down, and a nice pull down, and a good retracement back in there, double top pattern and a nice fail. This was a very, very targeted pattern that we were able to capitalize on and take advantage of things like SPY and so forth through the entire day. But overall, we had a little bit of a drift to the downside, and we finished down on the S&P 6.11 is what it shows. So a little over six, six points on the S and P to the downside. So let’s go take a look at our candidate today, which is TTWO.

So let’s scrunch that down a little bit. First thing we need to do is talk about the fibs themselves. So if we get a pen, we’ll start all over again. Here’s – what a great push up and a really nice fail, fairly good bearish thrusting pattern that gap down and that little bit of recovery was nothing more than, ooh, big, big drop, let me slow down and think about it. And then there was the continuation and a nice V bottom in there. We wound up at one point up at the 50, we failed, we made our two standard deviation move, we came back and that’s what brings us to where we are now. So I’m going to actually bring the chart in a little bit.

So if we look at what transpired here, we’ve got the breakdown came back up and nice fail, but not enough. We came back up and we have hung in here for quite some time around that 161.33 level. Pushed up, we failed. We came back up, push back. We had a really nice strong push into that 161. 33. We are seeing lower lows and lower highs in there, assuming we hold where we are now.

So what we’re looking for tomorrow, the day after, but ideally tomorrow for the first, is, we want to see, can we fail off of that blue line, that 161.33? That’s our zero line, hence the name zero line breakout. We broke, retested, failed. And what we’re looking for, if we enter the trade, if we actually get in to the position, we’ve got a stop at about 163. If it gets up to 163, we’re out of the trade, we call it a day.

Now it’s up to you how many contracts you enter, but the way that you want to manage this position is, your first target, This is T1, and this is T2. This is IS. IS, initial stop. All right, if it goes against us, hits the 163 we’re out of the trade. Everything moves in our direction, we come down here to one 155, we exit our one half of the trade. So for the way that we trade these, just, for the example purpose is we use two contracts. We exit one contract at the 155. We would then move our stop down below breakeven. Now, if it does come back up and go against us, no harm, no foul on the second half of the trade. We already made the money on the first half. And then our target number two is down here at 148. So getting in about 60 ish and getting out at 148, I’ll take it all day long. It is a great looking setup.

Now, folks I’ll put a link down in the description below that you can learn more about the zero line breakout trade. I’ve got a video on it right here on our channel that you can go down and watch, and it’ll go over all the details of how to take this trade, management, all of the little pieces inside of there, you’ll be able to see inside of that video. All right. So with 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 of ladies and gentlemen. I will see you all at our next update. Bye for now.