Both AEM and NEM are the same type of setup. I'm placing my fib lines from the PDH to the ORL or early pivot low and looking for potential retracement trades (back to Friday's highs). AEM worked perfectly and NEM started out as planned, but couldn't follow through on the second half, so I had to short it on a lower high in the R-zone. If you're like me, trading from a WL, focusing on certain sectors, you probably look at what's going on with yesterday's winners for follow-up trades. If not, this post won't be of much interest. Trying to find the best Fib. placement for these types of trades that gap within the previous day's range is challenging. I really like how this Fib. strategy worked for me, because both charts were easy to read. For AEM the R-zone acted as support, whereas for NEM, it acted as resistance. In both cases it was clear what action was required to make money.
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