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 Note
If people are super bullish, it should bounce here Note
22600ish
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.