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Tuesday, May 02, 2006

TXU - 050206; 15-minute chart

posted by Tom C:

If the first bar entry was too risky for you, there was another chance to get long as price pulled back to test support at the top of the Fibonacci extension.



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Posted by Trader-X at 8:02 PM

1 comment:

Anonymous said...

Also noticed it retraced from the 1.38 ext back to the 23.6 fib, made a hammer and continued the rally. I notice this type of action alot along with a retracement from the early am high -first 2 hour area- to some fib number then further rally.

9:30 AM

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DISCLAIMER - I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES; I JUST POST MY THOUGHTS, TRADES, AND OPINIONS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS. ALL CHARTS ARE COURTESY OF REALTICK. ALL TIMES INDICATED ARE NY (EST).