Hubert Senters here.
So take a look here at Apple, AAPL. A little bit of a sell off down one point two percent on some concerns about something. Let’s do some technical where might this thing pull back too. So a really easy way to do this is just use Fibonacci extensions.
Now, you can draw these from pretty much anywhere you want to know. I’m going to show you. I’m going to draw from. So one place that you could start would be down here at the low. So go low to high if you do that a normal pullback would be to $177-ish. Okay.
Now, you’ve got this gap here so I would move it up. And I would go right here since it gapped and cleared the cloud that’s where I will draw to. Oddly enough of the Ichimoku standard line is right there. So a normal pullback would be to $183 to $181. So as long as it stays up there should be fine. Looks good. Nothing goes straight up, nothing goes straight down.
If you’re long something and it wiggles around if you can’t handle the wiggles you really shouldn’t be trading especially if you’re day trading or if you’re swing trading you’re going to get a lot of those wiggles. If you’re an investor you can get a lot more wiggles, right. All you do by going shorter time frames is you magnify that stuff right. So you’ve got to be careful. Make sure you know what you’re doing.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
