Tuesday, July 10, 2007

Day trading and using the holy grail is there a CCI here?

Just as it happens so many times, we have a retest of the low into a higher time frame support or symmetry and the market stalls at one of the fibonacci numbers and turns on a dime.

Today as the market retested the low around 11:15am it did come down to the .786 retracement and couldn't make it thru the low pivot of 10:45 and back in your face it came...the trials of a daytrading maniac. But by using and understanding fib levels you can enter your setup.....manage the trade and of course stay out of trouble.


Anonymous said...

eww fibs, hows the house?

Anonymous said...

Great sequence of examples. Thanks Dennis.


Anonymous said...


Can you talk about or give examples of the fibs and symm on the higher time frames....15 min?