Go Back   Traders Laboratory > Trading Laboratory > Technical Analysis

Technical Analysis The technical discussion forum for traders. Moderated by mister ed.

Reply
Bookmarks
del.icio.us StumbleUpon Google Digg Facebook Furl Reddit Netscape

 
LinkBack Thread Tools Search this Thread Display Modes Language
  #1 (permalink)  
Old 09-26-2006, 11:31 PM
Soultrader's Avatar
Soultrader Soultrader is offline
Founder of TL!

Trader Specs
 
Join Date: Aug 2006
Location: Tokyo, Japan
Posts: 2,856
Thanks: 56
Thanked 276 Times in 106 Posts
Blog Entries: 9
Send a message via MSN to Soultrader Send a message via Skype™ to Soultrader
Trend Continuation Setup

A strong morning trend is likely to continue in the afternoon. So how you find a setup?

One method I use after a strong morning trend is to let it sink a little bit while the profit takers come on. I will then plot a fibonacci retracement line from the swing low to swing high and look for support in the 50% - 61.8% fib retracement zone.

Notice in the chart, the 61.8% became the dead support and the markts took off for another 70 points.
Attached Images
File Type: jpg fibsetup618.jpg (91.5 KB, 88 views)

__________________
James Lee
Email: JamesLee@traderslaborator y.com
Skype: james.lee03
TradersLaboratory.com

Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
Sept. 12, 2006 Trend Day Chart Soultrader Technical Analysis 3 12-16-2007 07:17 AM
Spotting Trend Reversals Using Candlesticks TAking E-mini Futures 3 10-20-2006 01:17 PM
Consolidation after a trend day Soultrader E-mini Futures 0 09-06-2006 09:04 AM


All times are GMT -4. The time now is 11:47 AM.

 


1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58