Answer the three questions on your own, and read through the comments over the past week or two for some good charts and trades from readers.
__________
Tags:
Trader-X, Stocks, Fibonacci, RYL
The Power of Persistence
6 days ago
Wednesday, April 05, 2006
Promoted from comments
Daniel posted this trade earlier today in comments. He referenced a set-up I highlighted in the past that occurs above the Fibonacci extension.
Answer the three questions on your own, and read through the comments over the past week or two for some good charts and trades from readers.
__________
Tags:
Trader-X, Stocks, Fibonacci, RYL
Answer the three questions on your own, and read through the comments over the past week or two for some good charts and trades from readers.
__________
Tags:
Trader-X, Stocks, Fibonacci, RYL
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6 comments:
Thanks a lot for the kind words. I look forward to your participation.
I made almost 6% on THC. Thanks for the great blog!
On these setups at the fib. extension, how do you identify your target?
Hey John,
I know you didn't ask me specifically, but I'll chime in. I usually look for possible signs of weakness (weak closing bars) as a possible sign for a reversal. You can also estimate a target by taking the distance from the high and the fib extension and adding that to the fib extension for your next target. Generally speaking though, I just look for weak bars. Since it's already gone up so much, any weakness can set off a reversal. Just my 1.5 cents.
Hey John - what Dave C. posted is what I do...
Thanks
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