Hubert Senters here.
Now, I know we were talking about this in a couple of videos like yes or no though whether it’s going higher and most of you picked it’s going higher and I think it’s going to go higher too.
What do you do when you’re wrong though? What’s the backup plan? Let’s say you want to be long this creature. MELI and now, it just took a $37 pullback.
First, it’s moved a lot. So it’s moved from $568 to $697. That’s a huge move. There will be retracements but where to? What we’re going to do is I’m going to still leave these lines on here.
I can read you those because there’s no confusion. Let me show you how I do this. I’m going to remove this and then I’m going to go from the dead low here to the dead high here. And then we’re going to look at a potential retracement we can buy.
Probably a 50 percent retracement is realistic. What we’re going to do is we’re going to use good old-fashioned Fibonacci lines. I’m going to click here. And then I’m going to click here. Look at there and the Ichimoku lines up with it almost perfectly.
So if it can get to $632-ish to $617 in this little zone right here I’d want to be a pullback buyer. Hopefully that makes sense to you.
If you are a stock trader or an options trader you’re going to want to sign up for this webinar on how to ‘’Dominate Earnings Trades with this setup: How to Profit from Trading Earnings.
It’s really an interesting twist on how to trade earnings so Dan Pasarelli is going to be doing a webinar Wednesday, January 15th at 7PM EST. I’m going to HYPERLINK you to this page.
Good luck. Hope it helps. See you on the next video.
Hubert.
