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Transcript of Video:
All right. Happy morning, everybody. Welcome. I know you liked the video about the trade yesterday on the Euro Turkish lira and that’s exciting to me. I had a lot of fun doing that. Today I want to talk about … As many of you know, I set a goal in October to take ten big trend trades together with my members. And today we just did a lesson here on the whiteboard about flexibility and accountability. And, in short, that means … in this member lesson I talked about the fact that I need to be flexible, and I need to take personal responsibility for whatever happens. So here’s my routine for taking personal responsibility on the trades today.
Number one, I’ve got to take time to scan the charts for those trades that I’m looking for. And I want to do that with you right now. So let’s go sit at the computer.
Okay, what I’m looking for is the ADX to go below 18. And I’m just going to jump through a bunch of charts here and take a look. I don’t know why the US dollar and the Norwegian Krone is … oh, my goodness. Look at that. First one I looked at. All right. So the ADX is below 20 here and may even be lower than that. Oh yeah, it’s in the eighteens. That’s a perfect level for the ADX to be at. That’s absolutely lovely.
Okay, when the ADX is at a level like this, it is a really good time to start looking for … see if I can get a rectangle drawn on the chart. Yeah, a breakout from beyond a box here. And this is looking like my favorite trade right now. On a breakout of this box, we’re probably going to rise up and hit this daily pivot. Now that’s not a giant trend trade, but that gets us to a level, if it reaches that daily pivot, where we could move the stock to break even, and then try for some extraordinary profit target way above. Or, if we break below the bottom of the box … let’s see if I can draw a line here without messing it up … if we break lower, then we can hit the weekly pivot, move the stock to break even and go for a daily pivot, or even something much more substantial than that. I love this! This is the first one we looked at. The dollar Norwegian Krone.
All right, so I’ll be looking for a breakout from beyond this box. Oh, that is awesome. Just so you know, if you follow the link below you can get access … it doesn’t matter, don’t worry about it. I’m not going to sell anything to you. Have the greatest day ever. You can see the links below. Have the best day of all time and I’ll see you tomorrow. Bye everyone.
Have the best day ever,