If you aren't familiar with the "u-turn" setup, do a search using the box in the upper left corner.
As discussed in my earlier posts, my Fibonacci lines are plotted from the previous day's close to the current day's open. Price bounced perfectly off the 50% retracement and proceeded to rally to the Fibonacci extension (FE) where it promptly reversed. I entered on a break of the sixth bar's high (an offsetting bar in my language) and exited at the FE for a .90 gain in less than 20 minutes. In addition to the bullish candle formation, price was supported by the rising 8EMA.
note - if you trade later in the morning, CPX presented more entry possibilities as it rallied past the FE.
A Simple Mistake Traders Make
7 hours ago