I know many of you traded FINL on Friday (see the discussion in Friday's "Comments") - it eventually paid off, but took a while to unfold. SFNT was the same way - you had to be patient. It never came close to hitting the target, but if you held until the end of the day, it provided just under 4% profit. The entry was a break of the second bar low*; the second bar was a narrow range, inside bar and a "hanging man" (bearish) candle.
*as with any entry below/above a previous high/low (in the case of my charts, the opening range (OR) high/low), you need to watch for resistance/support as price approaches those levels. If it stalls, you want to exit. If it breaks through, the odds are good you will have a move to the corresponding Fibonacci extension
__________
Tags:
Trader-X, Stocks, Fibonacci, SFNT
No comments:
Post a Comment