Hubert Senters here.
In yesterday’s video, we discussed how to use a Fibonacci retracement both for a long or short. I’m just going to recap that really quick so.
We were taking on the long side for a Fib. We’re going from the low to the high for a little pullback for a 50 percent retracement and I call it an ambush trade.
That will be a long and then it goes higher. And I’m not changing charts. I’m just looking at the same chart. I’m just going to zoom it in here.
And as you can see around here I’m going to do the opposite. I’m going to take the high to the low and there’s another decent trade that’s a short. Because obviously that market is in a major uptrend or a downtrend but it’s really effective both ways.
So that’s a retracement both long and short. Now, the next one is called a Fibonacci in different platforms calling them different things.
In Trade Station calls it a Fibonacci Price Extension Lines. I also heard it being called it a Projection. And here’s how this one works.
What you’re going to be looking for is you’re going to be looking for this pattern low, high, higher low. As long as you make it low, high, higher low then it will forward project or extend where they think the price is going to go next.
So lets do this one. That’s not a perfect one. That’s not bad though. So this would be low, high and then low. Let’s see what it will give us.
Low. High. Higher Low. So they’re saying that for this, this is the Nasdaq. I’m recording at this on Sunday. The next target will be $14,267, $14,612 and if it continues going higher it will then be the $15,197, $15,727 and $16,071.
So I’m currently long a little bith of ETH so I’m going to see which way I think ETH is going to go with a projection on this.
So I’m going to go low, high, low, low, high, low and let’s see what happens. Low. High. Higher low. It helps if you click the right way.
Low. And then high. And then higher low. So next target for this is going to be $3,154 with ETH.
Trade Thirsty is hosting a live webinar with Vantage Point if you’ve never seen Vantage Point. It’s a cool piece of software where it goes a 3-Day predicting algorithm and let you know one of the things are going to go up or down over the next three days. If you’ve never seen the software go check it out.
I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
