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Hey, Fibonacci fans! I’ve got good news. We have added the ability to change individual COLORS on whatever retracement levels you like. I know this sounds trivial, but when you get serious about these things (as I have done recently), it’s truly useful.
Good morning, everyone. I’d like to talk about the intraday chart below of the /ES, which I think might be important, or at least interesting:
My approach to trading is verystraightforward. I mostly focus on Trendlines, Exponential Moving Averages, Candlestick patterns, and Fibonacci Retracement Levels. There are a lot of other technical trading tools out there, but I find that some are overly complex for my mind and/or designed more for the extreme analytical minded-traders, so I stay away from those and just use what works for me. I wanted to write specifically about Fibonacci levels as they can be a useful tool in identifying some interesting spots to watch in your trades.
(more…)I’d say a big risk for the bears right now is the prospect of the emerging markets bouncing off their major Fibonacci Retracement levels. I don’t WANT this to happen, but I’m guessing the market doesn’t care.
The emerging markets fund (symbol EEM) has been in its own, and virtually uninterrupted bear market, since it peaked February 16, 2021 (incredibly, more than 14 months ago; were only we so lucky in the U.S. to have stocks come to their senses like this!) It’s been an amazing progression, particularly given its relationship with its now-broken channel as well as its Fibonacci Retracements.
