OK, So I’m A Geek
Have you checked
the calendar today? It put a smile on my face to see that it was January 2,
2003 (01-02-03). Now that is what I call a day of “order.” Also note that all
numbers are Fibonacci numbers in today’s date. Yeah that’s right…I’m a geek!
Early this
week I mentioned that
(
GE |
Quote |
Chart |
News |
PowerRating) was setting up for a long trade. Well, we got two beautiful
“doji” candlestick bars in a row into our Fibonacci support zone. I waited patiently
for a trigger and today I got one. On a trade above Tuesday’s high I was ready
to go long. Today on the open I am called to action. So, I’m long GE with a
stop below Tuesday’s low.
It was a strong
day for GE closing up 1.1 pts from Tuesday’s close. GE is now facing a key price
resistance decision zone from 25.50-26.04. We need to clear this Fibonacci resistance
zone to get a clear shot at my first objective on the trade around 27.15-27.43.
In hindsight
as you look at this set up here is what we had:
- Bullish Gartley PATTERN
- TIME cycles for a reversal to the upside
- Fibonacci PRICE support
- Two “doji” CANDLESTICKS signaling possible reversal
Trading stocks
that set up in this fashion combined with a solid money management plan should
put you in the driver’s seat for 2003!
I realize there
are 300+ days of trading ahead, but my daughter picked
(
NT |
Quote |
Chart |
News |
PowerRating) in
Connor’s contest.
Giddy up!
