Tuesday, March 26, 2013

Entering trades

I'm not a big fan of fibs, but I use them to enter trades at times. I use either the 1 hour 21EMA, or the 61.8 level. Yesterday evening's post, I wrote I would sell Natural Gas on a bounce to 3.92 (hourly 21EMA). So I drew some fibs, noted the 61.8 level was exactly where my entry was on Sunday night! So I placed a sell order there, got filled overnight. Look how well it played out, pretty much marked the overnight high.

Same concept to enter a NQ short, draw fibs, sell at the 61.8 level, again, it marked the dead high for the night. I feel like a genius!

In case someone thinks I'm making shit up, here's the screenshot of my trades.

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