More ways to practically apply Rob’s trading ideas

Okay, welcome back, gang! Let’s go ahead and follow up on our conversations from the previous videos and talk about ways to enter these from my perspective. So, the thing that I want to go ahead and start off with is reminder that in my last video I covered, so I don’t want to cover it too much tonight but I’m really looking to break out above this area on the SPY to the upside here. Roughly the 315 area or down below roughly in the 293 area here on the S&P. So basically, last week’s lows and last week’s highs is the first thing I’m looking for, okay? Now, as we tie to that, so, one of the first things I want you to do is put an alert on those areas. Put an alert on those areas.

This week we had a complete inside bar of those areas from last week. So, you have a market that’s coiling up. Now, if you recall, I’ve been telling you over and over again about Adobe, well, we went up to target number one if you remember the training from last week once you get up to that positive 50 area there, basically, we want to back off of the longs, right? So, we talked about that extensively. The thing is, as I’m looking for another opportunity I really want to break above that level. So, the key is to basically set a level on the SPY, set a level on Adobe to be looking for any further continuations and so by setting those alerts in advance and you can do that with platforms like, WealthCharts for instance, you can set the alert and get notified of when things are taking place so those are really good things for you to do to help you identify and then the inverse is true as well. If you’re looking to break down below the bottom end here and then if you have a favorite short side trade in mind, it would be the same exact opportunity. Or perhaps let’s say, you were still in a long, let’s say on Adobe you didn’t take your profits from the opportunity I showed you way down there at 405 but then the SPY is starting to break down here maybe you might want to consider closing out positions and again I’m not a registered financial representative and I can’t tell you what to do with your program. Consult your registered financial representative but I am telling you different opportunities for you to consider, to discuss with professionals in your life and see what makes sense for you but try to put some practicality around how to use some of these key different levels. Just like back over here when the market was breaking above these levels and the stock market was also gapping at that point at that time to kick that off, great, and there was still room to grow up here.

So, look for key support resistance breakout levels on the S&P going into next week and then tie that with the key support resistance levels you’re looking for here so that if the two tick in hot time you have the rising tide lifting all ships then you get a higher percentage probability trade to go along with it, okay but, when your market is struggling and you’re also sitting up here at R2 or the first target if the market’s struggling it’s gonna be hard to get through target one, let alone target two and, so you see distribution bar, after distribution bar, after distribution bar, basically three weeks of distribution on Synopsis. For Synopsis now, you can bet got to get through this distribution band up here and then breakthrough markets and, of course, the NASDAQ is another one to go ahead and use with this as well. Identify the key breakout breakdown areas as well. So, we’ll talk more about those types of things in upcoming videos but I want to start kind of laying out to you how you can start tying in the general major market breakout, breakdown levels and that I share with you and what i’m looking for in the pattern analysis and everything and start tying it down to the individual trading opportunities and then, of course, obviously for all my wonderful intraday traders, we’ll be breaking down how to look at the daily charts versus the intraday to find some of the best opportunities and upcoming videos as well. So, you guys have a wonderful weekend here! Start thinking about how you can set these alerts to track some of your favorite trading opportunities. You can put your favorite options trade on, day trade, swing trade and we’ll be sharing more in the upcoming videos! Take care! Enjoy your weekend! We’ll see you soon. Bye-bye, everybody!

Leave a comment!
Read previous post:
Buckle up for the next big stock market move. Here’s what Rob is watching now!

Ok gang, welcome back! Well, before I go ahead and answer the question on some of the stocks we've been...

Close