tag:blogger.com,1999:blog-19713238.post262747761739390573..comments2023-11-05T06:41:02.893-05:00Comments on Wall St. Warrior: Stair Step - The Gymboree Corporation (Public, NASDAQ:GYMB)TJhttp://www.blogger.com/profile/13294634341130531371noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-19713238.post-12958661565507375632009-03-05T23:57:00.000-05:002009-03-05T23:57:00.000-05:00Jordan,For wide gaps that open well beyond the rec...Jordan,<BR/><BR/>For wide gaps that open well beyond the recent trading range, I would place fibs as you describe. For POT, the gap is not wide and the highs of the OR overlap with yesterday's lows, so I prefer to place fibs either:<BR/><BR/>1. PDH to PDL, or<BR/>2. Most recent pivot high to ORL or early pivot low. So, in the case of POT from third last bar high from yesterday to ORL of today. Then we see price retrace exactly 50% and print a shooting star, so shortable on break of third bar low.<BR/><BR/>This is different from what I was doing in the past, but seems to work better for me.<BR/><BR/>On wide gaps price often stalls at 38% extension, but on smaller gaps, I'm letting them run either to 50% or whole/half $ level. Also watch for intraday pivots S2/R2.TJhttps://www.blogger.com/profile/13294634341130531371noreply@blogger.comtag:blogger.com,1999:blog-19713238.post-79279337902363517712009-03-05T22:29:00.000-05:002009-03-05T22:29:00.000-05:00Jamie,For the POT trade, it gapped and open below ...Jamie,<BR/>For the POT trade, it gapped and open below PDL, so why not place fib from ORL to PDH? You exited at 50% ext, why not 38.2%? Appreciate your insights. Thanksjordanhttps://www.blogger.com/profile/07550197966384064774noreply@blogger.com