Posted by Tom C.
In his post earlier this year detailing his setups, Trader-X discussed the "deep pullback". He lists it as a short setup, but here is a long setup that adheres to the same criteria.
WYNN gapped up, pulled back to the halfway point between the low and the 50% retracement, and had support from a rising 8EMA (note - I use MAs, X doesn't). My entry was a break of the trigger bar marked with the yellow line; I sold at the Fibonacci extension.
There were a lot of long opportunities today - I hope you guys made a lot of money.
Trading 27-April-2016 (+ $66)
22 hours ago