Hubert Senters here.
In the last video we’ve talked about the difference between a Fibonacci Retracement versus a Fibonacci Extension. Now, let’s go through and walk through a couple of examples on Extensions so.
This is the one where I’m going on from low to high to higher low. I’m going to remove it from here and show you how I grab it and throw it on the chart.
So I’ll click my tool click once, click twice and then here both of these qualify either that one or that one. When you’re out there really in line either way you want to go there.
One. Two. Three. So the next targets for Nvidia in the futures should be $466, $494 and $512. This will also work if you want to do it on intraday stuff so I’m going to do it at YM.D. I’m going to do a 5-minute chart.
So in this case scenario you do it like here one, two, three. Pretty Simple. And then you do it quickly get at one, two, three. And then you’ll just start seeing this stuff.
And it worked pretty good on this scenario here in this example if you bought it down in this area and then it would say $27,249, $27,276, $27,320 $27,364 and then $27,392.
Now, if you’re doing this and you’re not sure what to place it right in the middle of something that’s working here’s how I would do it. I’d say this is the low. This is the high. And this right now will qualify as the low.
So low, high, higher low. Next target would be $27,373, $27,408 and $27,465.
Good luck. Hope it helps. See you on the next video.
Hubert.
