Hubert Senters here.
Let’s take a look at CDNS. C Cat, D David, N Nancy, Sam. Looks good. Overall, it’s taking most recent highs as you can see back here. This was its most recent high and it’s taking out handed as of today. Yesterday, it kind of boost big knife store and today, it just ripped right there.
We call that a hot knife through butter in the south. Let’s take a look at this where this creature is going to go. Again, we’re going to do the good old-fashioned Fibonacci extension or projection so there’s a couple of different ways you can look at this one.
This one is actually a little bit harder. Actually, I think it will be good for me. It will work through if being hard so you can see why I would do it.
So in order to do this what you’re looking for is the theory that you’re going to apply is low, high, high or low and then you’re going to go like that so I know this is going to be my low point so I can start there. And then that could be a high. And then that could be a low. That will work.
That’s intermediate. I was just looking back in here. If you get stuck like I get stuck sometimes just go where’s my most recent where’s my new high or low. It’s right there.
And then this would be my high and then that would be my low. Low, high, high or low. That will work. That was useful for both me and you. Now, what I’m going to do is I’m going to go grab the tool. Click and click. It’s pretty close though.
So see the problem with this? I had to work through it. Next target $76.93. It didn’t get there so probably about tomorrow. Now, we have to go a little bit further and that will be probably taking out so let’s work through this. Let’s remove this again.
We still know this is the low. We could make that the high. And then we could make this the low. So we could go low, high, that will work. That will be beautiful. But heads up, trading is not beautiful all the time. Sometimes it’s blood and guts and sweat and tears. We go from here to this low. Click to that and click to this. That will work.
That will give us some stuff to work with. We’re still $79.72, $82.31 and $83.90. Now, if you’re looking at further target just back up and find those spots and you will be just fine.
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Good luck. Hope it helps. See you on the next video.