I made this post* back in 2005 (have I really been blogging that long?):
If you follow that advice, it frees up your capital and your brain to take trades like KND. The trigger bar is marked - as you can see, it was a nice offsetting bar pattern, with price bouncing off the 50% retracement and moving up with support from the 5 EMA. I closed half of the position at the Fibonacci extension (FE) and held the other half for the $28 whole number. I usually don't do this (ie, I usually exit my entire position at the FE), but I saw this pattern in a lot of issues today, and it was a bullish sign. You can also make the argument that there was a "beyond the Fibonacci extension" setup in there somewhere.
*link to original post
A Simple Mistake Traders Make
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