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Technology Stocks : Semi Equipment Analysis
SOXX 302.00+2.6%Nov 10 4:00 PM EST
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To: Return to Sender who wrote (84886)4/17/2020 8:24:41 AM
From: The Ox1 Recommendation  Read Replies (1) of 95390
 
The fibonacci levels are good places to watch for trend changes, as you pointed out.

(stating an obvious) They are by no means a lock and should not be used by themselves, in the absence of other indicators.

For trading, they do assist and help us to know where risk is rising. Letting your 'winners run' is always a good basic concept, so you don't unnecessarily take off a winning position too early. With the way this market loves to gap up and down, it's helpful to know if you are near an area where a trend may change.

If you are more intent on reducing risk than adding to your gains, letting your winners run may not be the appropriate strategy.

The trend is your friend, until it isn't... I'll add the cliche - pigs get fat, hogs get slaughtered....
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