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Sunday, October 15, 2006

MEE - 101306; 30-minute chart

Here is a chart posted by Sam in "Comments".

He mentioned it was a "mirror-image" of the CROX chart posted below. As with CROX, it did not hit the Fibonacci extension but was a nice trade nonetheless. The rising 34MA was an obvious signal to cover towards the end of the day.




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2 comments:

Acary said...

Great blog, I am learning a lot. I hope you are feeling better Mr. X.

QQQBall said...

THE RETRACE HIGH ON THE 3RD30-MIN BAR WAS WITHIN AN 11-CENT RANGE OF THE TOP OF THE FIRST 15-MIN BAR, AND WITHIN 11 CENTS OF THE OPENING PRICE OF FIRST 15M BAR. NICE TRADE - LOW RISK ENTRY AREA AND TRADE IS IN DIRECTION OF GAP... BTW, I THINK ITS NO COINCIDENCE THAT 1A CENTS IS JUST WITHIN 2/16THS (1/8TH)... OLD-TIME TRADERS USED TEENIES - YOU SEE STOPS RUN BY A TEENIE (1/16TH - 6 CENTS) ALL THE TIME.