Wednesday, February 22, 2012

Another complete pattern


This is another "Fibonacci funnel" but this time on a 2 hourly time frame.   You can see that the price traded to within 2 ticks of the target.  (I always set my limit order to be filled a little below the target...- "shading it") and this trade produced a RRR of 3.1 to 1 in a matter of 6 calendar days / 4 trading days.


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