Swings and scalps

Adding on a retrace.

I think another test of the 161.8 with more momentum on the bounce is next, unless it really spikes down.

Entry order with $7 stop.

Risking another $1

The 23.6 held. Too bad I stopped out and had to pay commission twice jumping back in. I had the stop just above the 23.6 but not far enough above it.

Re-entry at the channel line.

Stopped. About to stop out again. Interesting fib formation though. Fizzling out after hitting the 261.8.

Rising above the confusion of all these other support and resistance fib areas. However that old trendline from the 5 min chart for some reason still holds.

Confluence of 161.8 levels.

Mapping consolidation and break out is what fibs help with the most. Get in on the first pull back and target the extensions. Then, however, other fibs form during consolidation, overpowering one another. I suppose it could be like sound, or waves of some sort. Ocean waves coming in at differing angles. For some reason, the forces are dissonant. In this case resonant.

No way. It didn't trigger? Perhaps some consolidation at this level though.

Set the target back to the 423.6, at least just shy of it this time, not being greedy about to the pip.

Market down today checking for correlations. Drops faster than it rises, nice volume.

Another entry on the 261.8. 23.6 confluence.

A look at the 1 min how ridiculous.

A more aggressive entry on a retrace, just in case it doesn't retest the level.

The last fib was also a rejection of the 23.6 on a smaller scale perhaps this larger one will hold.

Is this an actual trendline break? Short on a pullback?

Perhaps I'll move the target up if it gets to breakeven or put the stop at a decent profit level and let it run.

Bill Williams calls it a decision. The market consolidates, back forth back forth finally deciding then boom a fib is born with it's subsequent extension.

Head and shoulders. This often means increase in downward momentum.

Another entry on the long fib 423.6.