Reversal Patterns

Looks like Diamonds broke their resistance. Heading for 110-111.

 

Sounds like 1.618 didnt hold. Did you get stopped out?

 

No i was lucky within a few cents.

 

so you're still long?

 

Looking at the 50ma I think i will get out when the chart meets it.


Gart

 

NT LIKES TO GIVE KISSES, JUST KISSED THE 50ma AND REVERSED, JUST LIKE I SAID.

 

This post is just a thought, nothing else. Perhaps LU will take a little climb back to the 0.500 Retrace. It seems to like that one if you notice in the chart. It also is a nice wave. I think the overall direction is Down for Lu, but hey if people like to trade it thorugh the up's and downs here's a thought for you.

 

Gartley222,

Which book would you recommend for studying geometric/fib patterns?

I have just finished with the Dobbs book. It is clearly written, concise, well illustrated.I would highly recommend it to anyone.

 

ODP looks to be making a top now or soon. A friend pointed out it seems to make its major highs in the beginning of the year. plus I liked the patterns i saw. However i left the exact retracements on the chart because the majority of them are very very close to the fibs i use. Good luck trading to all and thank you to the one's that PM me with the questions I appreciate it.

 

Update on ODP, just missed the 1.786 extension. It has started a pull back hopefully it it is a strong one.