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To be honest, I've never been a big fib fan. I guess price often does retrace 61.8% but I believe it's not because of some magical ratio but rather everyone has the fib levels on their charts.
Notice the time that trades set up in the indexes. This happens almost everyday. Even though today was a consolidation day and therefore very much a ranging market trades set up on the half hour as usual. These are the times that I look for trades to set up.
I have developed a dot indicator that I would like to share with the VIP members in the Elite Circle. So....if you like the way they look....then join the VIP members and they are yours. Hope you like 'em.
Jeff you are making it tooooo easy. Thanks for all the work on and for sharing the dots they work pretty well. Weird how sometimes one little visual thing can bring order to chaos.... or give you that extra confirmation.
a set up with slower "dots"
A setup with faster "dots". Any sling shot/wave traders...? Once you set up the dots with the right slingshot then you just take the retracements when you get a colored dot the same as the slingshot... nice