0.5 Fib Rejection In Action

Updated

As I mentioned on Thursday, a pullback is expected to happen at the 0.5 Fib line. One thing I didn't notice until later on is that we have the 200MA on the weekly. So having two confirmation of indicator is a confluence. Currently +28.57% on my call option on Sdow. Now if people are waiting for quarterly earnings and other news to come, to play it safe I can take some profit here and ride the rest down or take some profit here and add as it goes up if we make it to 0.618. Either way still a secured scalp on that play.

Note

Using Fibs on just the green candle, currently bouncing off the 0.328

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If people are super bullish, it should bounce here

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22600ish

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