Hubert Senters here.
Let’s take a look at Oracle. A lot of questions that I get on targets and stuff is hey, how do you do that so quick?
So the more wraps you put in you just get decent just guessing the areas. So here’s a couple of ways that I like to do it. First, this is a little bit busy because it’s got Ichimoku and ADX. What we’re going to do is I’m going to right click. I’m going to copy this chart. Now, a lot of times what you’ll do is you’ll add complexity to the system and that will decrease your potential results so what I’ll recommend is you multiply by subtraction. I didn’t know this is possible.
What I mean by that is you’re going to subtract anything that does not help you make a better buying or selling decision. Now, we’ve got a clean chart and now you can focus on what I called the market structure highs and market lows. So when you’re looking at Fibonacci extension. I’m going to use a Fibonacci price extension and the rule of thumb is low, high, higher low so that chart pattern low, high, higher low is what we’re looking for.
So then we’re looking for areas like that so we could go low, high, higher low. That one will work but not really. Let me show you why because it’s all close to the price action. So if we do like this I’m going to zoom in. And then I’m going to go from this low to that high to this low. See it’s already surpassed all of those.
Now, if I would have done it back here. Yeah, that’s really useful. It’s already overtaking all of those resistance area. I’m going to back up some. So now you’re going to grab and take you’re going to do this one. Low, high, that breaks the rule. Low, high, higher low. That one will work. So what we’re looking at is a low here, a high up here and then a higher low. That one will work.
And it will give us some decent targets so I’m going to draw it for you now. One, two, three. Now, the next targets for Oracle will be $91.66 and $94.33. Now, if you like this type of stuff I’m going to be doing a special webinar on How To Find Three Powerful Trading Setups With Only 3 Clicks Of Your Mouse at Wealth 365.
All they’re asking for in return first name, email address and optional telephone number if you want to give it to them.
Good luck. Hope it helps. I’ll HYPERLINK you to the registration form.
Hubert.
