To help our trading community we do have a basic and advanced forum that reviews trades along with potential opportunities based on Fibonacci patterns and strategies from traders.
Below is a sample of a Trade Review which is really designed to be lessons that review past opportunities to help assess "what to do" in possible recurring situations. While nothing is a concrete certainty, a lot of the patterns we look at have been recorded as time tested material in books that date back to the start of technical analysis. More important is being able to confidently play these with proper risk management.
With regard to a given analysis that was posted on our bulletin earlier today:
Here's my $0.02 thought and I'm sure some of the experts may have some helpful thoughts to add.
When I'm looking at an ABC --- D at where to take, one thing I began looking at is the BC pullback to determine how far it's pulled back before marching on to D. If I see a shallow retracement to a 38.2 node, I'm more biased to an OP or XOP move as illustrated below.
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Just to help clarify on this blog since most of our traders on the advanced bulletin boards have a sense of terms specific to given strategies...
The terms "OP" and "XOP" come from reviewing Joe DiNapoli's work on advanced Fibonacci techniques and refer to specific extension points.
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