Hubert Senters here.
Let’s take a look at Microsoft boring but working. Microsoft is in a valid uptrend. It’s taken out its most recent high so. I’m going to put a line here for you so you can look where I’m looking.
This is a classic pattern that you’ll see a lot of equities do or stocks.
It will go up to known resistance. It will go past it. And then it will come back and either re-visited it or penetrate below it again. And then it will go higher. Basically, what it’s doing is it’s going to make a new high. Get in all the suckers right here. Pull back and sell down here and then it will ramp back up and then it will take out this high.
It’s just a viscous cycle. Then about the time that it will go right here it will pull in all of the people that bought here and solve here. Heads up, I’ve only done that a thousand times so I know that’s how it works.
Anyway, it looks good. Acts like it’s going to go higher. Let’s put a little target on here. Let’s go grab a Fibonacci Price Extension. Point one, this most recent low. Point two, this most recent high. And then a high or low.
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It’s actually designed to take advantage of stuff like this. I’ll HYPERLINK you to the form. Go check it out and let me know what you think.
Good luck. Hope it helps. See you on the next video.
Hubert.
