Perhaps the most attractive aspect of the futures markets is the prevalence of trends. Directional moves in price offer astute futures traders large profit potential in relation to assumed risk. One popular way of identifying and entering trending markets is through the use of Fibonacci retracements.
Well, I dont want to sound like a broken record but we are right back to those prices or better after a quick retracement in both of those markets. PLUS, there are 2 other markets that have gotten my attention over the past few days.
Written by DeWayne Reeves of CFRN.net. Burton Schlichter is a partner and featured broker at CFRN.net. FIB TIPS AND OTHER HEAD TRIPS As traders, we are quick to put on mental shackles. Bind ourselves to a way of thinking that lives somewhere between no-sense and nonsense. No trader makes it through unscathed. We all get… Read more.