Blog Archive

Wednesday, May 4, 2011

Andrews Pitchforks

Here are a few things I see in this chart. You can see that I used the 0.618 Fib Fan to line up the fork. The Breakout buy signal at 148891 is really too close to the target to place a trade, but I wanted to show the concept of breakouts. The Fibonacci ratios fit very well, but it looks like this market my get a second wind next week after it tests the Bottom Yellow Tine.

Keep an eye on that Magenta Critical Trend Line. I would extend that to the right for next week. I'll bet it comes into play again.

Here's another

No comments:

Post a Comment

Today's Feature