It looks like today is going to be interesting - as of this post, NASDAQ futures are down 60+, and S&P futures are down 34+.
On that note, Google has set up a crisis response page for the Japanese Earthquake and Tsunami. Please consider making a donation.
Several people posted variations of this setup in comments yesterday (TSL, 2-minute chart). If you plot your Fibonacci lines over the morning's low/high, it presented a nice orderly pullback and a setup on a break of a narrow-range, inside bar that occurred on top of the retracement zone (RZ). Here are Flowtastical's comments:
"Just want to share a simple Trader-X setup on the 2-minute chart today (03/14).
TSL gapped up.
TSL rallied at the open and pulled back to $26.
TSL made an inside bar on the 2-minute chart at 9:38.
The following bar rallied above $26.20, the high of the inside bar.
I got long.
I sold into the upmove."
Nice, simple analysis and trade. It looks like it yielded just under 3%.
A Simple Mistake Traders Make
7 hours ago