Long wicks get eaten by bulls. If you're a fib trader you gotta take this... Tight stop 3-to-1 risk reward at a minimum.
评论
irishdude5186
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You believe it may go to .236 fib?
tradedevil
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@irishdude5186, Technically it's the -23.6 Or you could use 1.272... That's a target the Algos are programmed for. It could easily go past that to the -0.618 but rarely does any market go past that level without a pullback. But you'll notice there are two fib draws there. The major and the minor. The minor -23.6 would be a spot to take a partial profit if we get there... Let it ride beyond... But the fibs need to hold first.
irishdude5186
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@tradedevil, Thank you so much for the education :)