Hubert Senters here.
I though Tesla experienced a nice little pullback today so I’m going to walk you through on several different ways that you can do Fibonacci extensions or projections so.
One way you can do it is if you do this you’re looking at something that’s doing the stair steps. You’re going low, high so what we’re doing here is low, high, low.
In this case we can go ahead and count the current one as a low even though it may not hold to give this a more accurate projection to the high side.
So what we would do here is we can say this is the most recent low and that right there it continues there. And then that was the most recent high right up in here right there. And then that was the low right there.
What I’m doing is I’m going from the low to the high and I’m calling that the high, today’s high and today’s low so now if that low holds then I can see a target as $2,049, $2,116, $2,225, $2,333 and then $2,400. If it doesn’t obviously I can modify my approach and then do the re-count and re-calculations.
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Good luck. Hope it helps. See you on the next video.
Hubert.
