Hubert Senters here.
Question from a viewer. How do you think Meli will go? I don’t know. Let’s see if we can try to figure it out. So obviously you got a bracket trade. You got a gap up here. And then if you did the bracket trade successfully obviously it would be a close above here.
It could be entering around $775 and now it’s continuing higher. So just use a Fibonacci Projection or Extension. Different platforms call on different things because they can’t figure it out. But anyway, all you got to do is just know how to use it. And that pattern is a perfect pattern for this.
What you’re going to do is high backwards low backwards high so high. Low, high, higher low. Same thing. We’re going to grab this. Ok. Point one click point two click point three click.
This will get us close enough for the next week or two.
Next target $855 then $873. And you can see I didn’t do it perfectly. You could adjust this.
If you’re OCD I mean you know an Engineer or something like that. You could do it like that and then make sure it’s perfect if you want to. It doesn’t have to be perfect. There’s no such thing as a perfect trade.
Next target $854 and then target after that $873. I am going to HYPERLINK you to Helweg’s webinar that he’s hosting this weekend Saturday, May 23rd at 11AM EST on the ‘Simple Blue Dot-Red Trading Strategy for Stay-at-Home Traders.’ It is based upon same technology and signals and picks and entries and targets and stops that he’s award-winning trading strategy uses. So I’m going to HYPERLINK you to that.
Good luck. Have a great weekend. See you next week.
Hubert.
