Here’s How I Trade Fibonacci With The Trend
Many of my columns focus on reversal opportunities,
but Fibonacci analysis can be applied to setups within the context of the
immediate trend as well. Tonight, I want to provide a real time example/setup
“with the trend†that has pattern, time cycles, and support.
I will call it…..
Project
Leapfrog (LF):
This specialty retail company
has been in a nice consistent/persistent uptrend since February. As of today it
has completed a two step pattern (AB=CD) into a Fibonacci price support zone
from 28.00-30.00. I also have a confluence of 5 time cycles for a reversal and
continuation of the uptrend to begin between now and July 17. Â
 
My trading plan: Going
long above Monday’s high with a stop at 27.88. My initial objective is the 1.272
of the AB=CD move. If today’s low holds then that objective would come in at
36.20ish. There ya go…Pattern, price support, time cycles.
Now, excuse me while I go play
some softball. Nothing like the smells of the ball park…green grass, leather
glove, stinky batting gloves, and let’s not forget the nachos w/ cheese from the
concession stand.  It ain’t the Yankees but it IS Derrik’s House!
Have a great night!