Now with the basic Indicators on the chart we want to see momentum turn up and price test the levels indicated by the Intraday fib and the Swing fib drawn in this case off the high from wednesday to the low today.
To clean things up a bit I remove the Swing fib and mark its levels with horizontal lines and now im free to use my Swing fib if price does in fact try and rally up now.
The horizontal lines are my resell points and price action will detirmine the entry.Only a break of 2.0411 will convince me to look and start buying dips.
Since i know I will most likely sell at these levels indicated i will watch the candle formations from the waveforms we get on its way there.higher highs and lows I buy dips up to these levels. (playing the retracement from todays move)A slow trickeling move up and I stay out......I will most likely stay out anyway because its the smarter of the moves,until resistance or support is tested.
If the Low of today breaks first Im selling the break and looking to the extentions of the Intraday fib as a target range and will begin to trail along with the swing fib to follow the market.
To clean things up a bit I remove the Swing fib and mark its levels with horizontal lines and now im free to use my Swing fib if price does in fact try and rally up now.
The horizontal lines are my resell points and price action will detirmine the entry.Only a break of 2.0411 will convince me to look and start buying dips.
Since i know I will most likely sell at these levels indicated i will watch the candle formations from the waveforms we get on its way there.higher highs and lows I buy dips up to these levels. (playing the retracement from todays move)A slow trickeling move up and I stay out......I will most likely stay out anyway because its the smarter of the moves,until resistance or support is tested.
If the Low of today breaks first Im selling the break and looking to the extentions of the Intraday fib as a target range and will begin to trail along with the swing fib to follow the market.