Since I started trading almost 30 years ago, I’ve learn many things about trading, and I’ve struggled with just about all the problems that traders can encounter. My hope is that these web pages will help traders who are serious about their goals to define an effective trading plan and to benefit from my experiences.
If you don’t have a trading plan, I encourage you to set aside some time and give it serious thought. To help you improve your trading with my Fibonacci Trading Techniques, use the outline on the following website to define your own trading plan;
http://www.fibonaccitrading.com/
Click to view video
Sometimes the best trading ideas are not complicated. Here is a simple technique that can make a big difference to your trading.
Combine an overbought/oversold indicator with Fibonacci for a higher probability of catching a market reversal.
This video is geared toward newer traders, but more advanced traders may find a gem concept here too.
Here is a great stock trade under way from the TraderZine forums. Many savvy traders hang out in those forums, so I recommend you join and get involved.
Originally posted by “Justin”; 09-16-2009, 11:45 PM
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Click to enlarge
Hi Neal,
Several months ago I purchased several shares of Humana (HUM). In a contrarian move I bought while the crowd sold. It’s now in a rally and I’m curious what your thoughts are as to where it will go.
I’ve attached 2 charts (Weekly and Daily) showing some Fiblevels (Retracement and Expansion).
Looking at the weekly chart, TRSI is showing a good trend up. L3 from the high at the beginning of 2008 and the low (Double bottom) in March 2009 paired with P2 from the expansion (Mar, May, July 09) along with a couple trend lines makes me think somewhere between $42.84 & $45.13 is where it’s going.
If you have some time, I’d appreciate and value your perspective on it.
Originally posted by “FibMaster”; 09-17-2009, 12:56 PM
Hey Justin, great chart!
See my response in this video here.
I’d be interested to know what exit strategy you decide on, how much profit there is for you…
Since this is a blog post about stock trading, I want to mention this website that is worth looking at if you want to learn to trade with options (Clark Financial Group LLC).
-Neal.
