Thursday, March 01, 2007

JOYG - Addendum


Note to self: I should have used the Fibonacci retracement tool to set my target on the JOYG trade. It retraced 61.8% of the distance from yesterday's high and today's low.

5 comments:

bp said...

I set the fibonacci up and used it to help in my entry. I was later than you, mainly because I dont know what Im doing... anyway I made out ok. Thanks for your blog, its been a big help.

Jamie said...

Thanks BP,

Happy to hear about your success and glad that the blog has been useful for you.

Prospectus said...

That's amazing about the fibs. It's crazy how often they work!

Jamie said...

The Fibs are great. I guess if a large majority of traders use them, that explains why they work. I'm going to have to incorporate them into my trading more often.

bl said...

bp, I assuming you went long. The second bar was quite a hammer/tail/exhaustion to go long. Also good convergence with resistance area. Great day for aapl. I missed out on most of the price swings as tech difficulties at Scottrade.