Attached is the picture of something very similar to what happened also the day I wrote 'So we bounced off that magic number again!' Find this thread to see what I meant and how open-mindedly (should I use the word 'mind' here at all?) it was received. Then the 61.8 % FR within the first 30 min bar proved to be a serious resistance. In the picture presented which comes from 12-20-02 (3 min bars in the ES chart) it proves to be a formidable support. See the picture and do your own homework if you want to use this setup for trading. This is a very simple setup and I am surprised that I have to draw a picture to get it across. I hope that the picture gets posted. I once had problems with that. This setup occured 8 times in the ES chart in November alone, each time it was possible to get 5 ES pts or more. The beauty of this setup is that your stop-loss is automatically defined. It is one tick below/above the closest end of the first 30 min bar. On the day presented in the picture it would be at 888.25 as the low of the first 30 min bar was at 888.5 and it was the end of it closest to the 61.8 % FR line. With an entry @890.5 you would be risking 2.25 ES pts. It's good to assume a target of at least 2 times the amount risked, that is here 2*2.25=4.5 ES pts, which in this case would easily be attained. FR=Fibbonacci Retracement Happy New Year!