Hubert Senters here.
Let’s take a look at CRM also knowns as Salesforce. You can see it’s had five days of upmove. That’s pretty impressive.
But it has fallen from its grace of $251. Let’s see where it might run out of gas. A great way to do that is with a 50 to 61 percent retracement.
A lot of things that will drop will then come back about halfway and then continue either higher or drop lower so.
If you’re bullish on CRM which is not a good thing or a bad thing. It’s just a thing. Then here’s where it may run out of steams.
We’re going to the top of price action down here to the bottom of the price action and the target zone which I call the ambush zone would be right here in this area of $226 to $232.
If you’re currently long anywhere in CRM your current target for it to potentially run out of gas would be $226 to $232.
Now, if it cuts through this like a hot knife through butter and gpes above $232 obviously it’s going to take out $251. If it struggles and rolls back over then it’s got a higher chance of coming back down here and re-testing $201.
I’ve been asked to speak at the Wealth 365 online event. I’m going to be teaching you how to find new trend trades and well established trends and how to trade both of them correctly.
I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
