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Thought this might interest some.........maybe because this example is so
"good"
Bill will put it in his manual..............
T-Bonds......Daily Chart(I can't do all of this .gif stuff so you'll have to
look at a daily chart)
July 2- T-Bonds hit 124.10
July17- T-Bonds hit 122.00
That is a move of 74 ticks.......
Multiply 74 times .618.....=46 ticks Add 46 ticks to to 122.00...you should
get 123.14
July 24- T-bonds hit 123.14 as a high of the day
NOTE.....Price Action at the Fib Retracement Number........The market closed
lower than it opened......Price Action said "someone is rejecting this
123.14 with some muscle".......
Action-You might want to sell 1 T-Bond either on the negative close or next
days open using a stop of 123.15.........(Now we are over $1,000 per
contract lower and getting a Price Action low, so far of 121.24....let's see
where we close...IF we close above the open....that might signal a short
term low)
That is an example of Price Action combined with Fib Retracements..........
It does work....BTW....I did not short T-bonds on this last move
down....Why???? Don't know....wish I did....who cares....I'll move on to
the next trade........
Tom Stein
comfut@xxxxxxx
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