Today' tutorial was all about higher time frame analysis and patients in waiting for anticipated targets to be hit. After some analysis of support and resistance coupled with the application of the Optimal Trade Entry (OTE) principle we came to the conclusion $375 looks like an interesting area for the bulls. Considering that is still almost $100 away and our momentum indicator (Willy) isn't 'stupidly oversold' yet, we may just have to exercise some extreme patients here over the short term.
Comments
Sarticus
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English is a hard language. The proper word in this context is patience, not patients.
derrend
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eyes closed, fingers crosses, 380 here we come :D
MagnusTradingGroup
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LOL whats going on with these fibs ...
CRInvestor
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I don't understand
MagnusTradingGroup
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they are kinda stretched ... the distance between the 0 and 0.5 fib is not the same as between the 0.5 and 1 fib :D