Trade 1: -17, -17 (62% Fibs Entire Day Mid to Upper Keltner)
Trade 2: -13, +17 (1st Retracement (UP Trend), Confluence w/ Prior Day Close and Lower MA between 24% and 38% Fibs Mid to Lower Keltner)
Trade 3: -10, -10 (1st Retracement (Up Trend), Exhibit A, First Pullback to MAs following MKP, Entry on penetration of High of IVB)
Trade 4: +18, +27 (1st Retracement, 50% Fibs of Entire Day testing PL (Minimal Risk w/ ISL just below PL))
Trade 5: +09, +13 (50% Fibs of Entire Day testing PL again in Sideways Range since 1100AM ET (Minimal Risk w/ ISL just below PL))
TOTALS: +17 / +$85
- Know what retracement it is in the Overall Trend! Remember, 3rd, 4th, or 5th retracement is not high probability. Count the number of Retracements from the beginning of the change in Trend (Continue the Trend from the day(s) prior). A Trend typically consists of 3 to 5 rotations then changes.
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