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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jack of All Trades who wrote (1866)5/31/2000 8:09:00 AM
From: Chip McVickar  Read Replies (1) of 33421
 
Morning Jeff,

I use the fibs as easy reference points, much the way John does on his charts. But depending on the price action in the bar formations I could get out earlier.

I get nervous at 50%....<smile>
And don't like leaving a profit on the table...,
Around the .618 it usually looks like I was wrong in the trades duration and strength. But even at .618 depending on the interday bar activity I might wait longer.

Today for the move I've targeted 1398 and 1385 as key zones.

How about you...?

Chip
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