We had 2 trades today in the room, both wins. A small scalp off the news reaction (as described in this thread), and this.
The initial move up to the left, that the fibb is drawn on, was a break of major resistance on larger TF.
Since I dont take break outs, I waited for a pullback to 50-61.8 fibb, with increased volume there and a bullish candle close.
Had some draw down, but VWAP and point of control came through as support, and away we went.
http://i26.tinypic.com/zxpuup.gif
The initial move up to the left, that the fibb is drawn on, was a break of major resistance on larger TF.
Since I dont take break outs, I waited for a pullback to 50-61.8 fibb, with increased volume there and a bullish candle close.
Had some draw down, but VWAP and point of control came through as support, and away we went.
http://i26.tinypic.com/zxpuup.gif