AG gapped down, bounced off S1 (green line), and formed a swing low (white line).
After a brief rally, price fell back through the swing low and S1, and I entered on a break of the weak candle as it pulled away from the 5MA. I covered at S2 (yellow line).
4 comments:
Would you say you use pivot points more than Fibonacci lines?
No, I would say I use each tool equally. I will post more Fibonacci charts in the upcoming days. I actually find that many times the Fibonacci entry and exit points correspond with Pivot Points.
Where did you put your stop on this one ? Just above the 5-min candle or a little above the pivot ?
I would have my stop above the pivot - actually above the four candles in that area above the pivot.
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