Hubert Senters here.

Let’s take a look at MCHP so I’m going to walk you through 2 step trade set up that I like to do on a lot of different instruments.

So first you’ve got a nice little frosty move from point 1 to point 2. So what you’re going to do is you’re going to look for a pullback to point 3.

How you calculate it to pull down pullback is called an ambush. We are going to use a fibonacci in order to do so.

Drawl from the bottom of point 1 to the top of point 2. You can see that you did not get a pullback to the 50 percent area there in that situation.

So there’s another one that you can calculate so you go up to the next clean green bars so from point 1 to point 2 right here. That will also qualify.

So this is going to be a major ambush and this little smaller one we’re doing this a minor ambush.

If it’s a minor ambush it’s a part of the major ambush. And then you’re looking at right here. That’s the zone that you buy $154.86 through $153.56.

Now, that you’ve bought there. All you have to do is figure out a target. And then what you’re going to do is do the same thing but with a fibonacci projection.

Two different type tools. I know sometimes it can get confusing so stick with me here. Now, we’re going to go point 1, point 2, point 3.

And it’s telling us that if we would have bought back in here. The first target it should be $160 then $165, $172 and then $180 and then ultimately eventually hit $184.

Trade Thirsty is hosting a live webinar on the Top 10 Stocks Set to Soar & Crash Next Wednesday, September 15th at 2PM EST.

It’s going to be put on by Ron. Ron is a fantastic speaker and presenter. I recommend that you go check it out and let me know what you think about Ron.

Good luck. Hope it helps. See you on the next video.

Hubert.