PBR gapped above the previous day high, but immediately dropped below the ORH (previous day). The 5th bar was a NRIB below the ORH, but I decided against this entry because I thought the upslopping moving averages from yesterday’s move may act as support.
3 comments:
Anarco,
How did you get the 50% retracement? Yesterday low to today's ORH?
Yesterday low to yesterday high. Since PBR dropped below the previous day high right of the gate, I draw the fib lines using the previous day high and low.
Got it. Thanks
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