Hey welcome ladies and gentlemen, this is Robert Roy, founder WealthBuildersHQ.com. Welcome to this edition of Trade with Rob, which is for Thursday, September 30th, 2021. Hope you’re having a fantastic day. Keep in mind, Everything that we look at today is for educational purposes only.
So let me bring you over to the charts. And the first thing we’re going to look at is the S & P 500. Now, you’re going to notice a lot of things drawn up on S & P 500 here. I’m looking for this overall correction to come down here about that 4,100 ish level, based on some calculations, 10%, blah, blah, blah, blah, blah. Right? We’re not there now. Nothing is, we’re not at that point today, but we are definitely showing some bearishness, the nice move down yesterday. Today we had the gap up and we couldn’t hold it. We’re back down near the lows of the day. So overall, we’re looking bearish on the overall market for the S and P 500.
Now the market is closed, so we’re ready to rock. So let’s go look at today’s candidate, which is MasterCard. The master of disaster is MasterCard. Okay. So if we look at the fib on MasterCard first to start, what do we have? We’ve got this nice V top in there. Good bearish, thrusting pattern, and a nice V Move up. We made it through the .236, which is our hesitation level, and nice, nice. Nice. Is it all things? It was posted Fibonacci four step, you know, another Fib, four step work. Gorgeous. Right? And then we made it down. There was our first breakout of our zero line. Hence the trade, we do a zero line breakout.
It came right back up. It broke retested and failed, but boom, bada boom, bada bing, bada boom, bada catching. Right? Beautiful move. Pushed back up here. A little hard to say, take that one, but depends the type of trader you are. The next push up, we pushed right through. We came down big, move down and we came back and retested today. It would’ve been nice to have caught this one yesterday for today, but it is what it is what it is. We’re there now.
So what are we looking at? Okay. On MasterCard, I need, in an ideal world, it to pull back up near that 355.64. You are going to make the determination. Are you going to enter the trade on the, test of it and fail? Are you going to wait for it to close near it and fail the next day? That’s based on your own personal risk profile and your risk tolerance. But if it doesn’t move up, the trade has gone, right? I need that trade to do that first.
If it does move up the way I just drew it out, and moves up here and fails, we’re going to go ahead and enter the trade depending on how many contracts you enter will determine how your exits are. If you enter only one contract. And there’s nothing wrong with that, your target is 351. This is T1, target 1, 351. If you enter just one contract, if you enter more than one contract, you’re going to ell one half of your position at the 351 level. Your stop one, S1 is here in red. That 357.50 is where my stop is there. If I’m wrong and it snaps back through, goodbye, call it a day up. Oh it’s going to cost money! I’m still going to call it a day because it’ll cost a lot more money. If the market and/or the stocks start to skyrocket at this point.
So like it like it like it like it like it a lot…if we can get that test, and my stop would be up here for both my contracts, that’d be the full position. But let’s say we make it down here. Not our stop, we make it down here. We sell half of our position, right at T1 T2 was down here at 344.25. What you’re going to do is you’re going to move your stop down to just below breakeven. In other words, if the market comes back and this stock goes against you, MasterCard goes against you, you’ll get stopped out of that second half of the trade, but you’re in profit territory already so it shouldn’t cost you very much, if anything at all on your options.
So there you have it, ladies and gentlemen, now keep something in mind, if you would, right? If you like what you saw here, go ahead and subscribe, ring the bell. Folks. You’ve got the opportunity. Here are some of the other social platforms that were out there. I think today I did seven or eight videos that we put out on multiple platforms, Facebook, Instagram, Twitter. We’re going to start putting LinkedIn. We’re going to have stuff going up on Pinterest. We’ve got our podcasts. We’ve got YouTube of course. We put somewhere between 7 and 11 videos a week on YouTube. And shhh don’t tell anybody, but we’re getting ready to do a live show daily in the morning, Pre-market, as we’re getting ready to rock, uh, every single day.
All right. So that’s something that we’re looking for, uh, to get started pretty darn soon. So go ahead and subscribe to the various channels that we’re on, right. And make it a profitable day. Stay focused on the quest to becoming a great trader, keep crushing it. And remember, remember folks you’re just one trade away, take care. And I will see all of you at our next update. Bye for now, folks.