The target was the Fibonacci extension of the previous day's low to the OR high, and it was hit three bars later.
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Tags:
trader-x, stocks, fibonacci, trading, rmd
How to trade market corrections
16 hours ago
Tuesday, October 24, 2006
RMD - 102406; 15-minute chart
I wanted the fourteenth bar to be a hammer, but it did not quite form one. It was a compelling trade nonetheless, with support from the opening range (OR) high and a rising 5MA.
The target was the Fibonacci extension of the previous day's low to the OR high, and it was hit three bars later.
_______________
Tags:
trader-x, stocks, fibonacci, trading, rmd
The target was the Fibonacci extension of the previous day's low to the OR high, and it was hit three bars later.
_______________
Tags:
trader-x, stocks, fibonacci, trading, rmd
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1 comment:
nice trading tom, thanks for posting. BHP rallied of the gap down and broke above the opening price by more than .11.
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