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roofer
Rep: 3,689
Posts: 3,574
fib 2 step

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the trader joedd calls this(gs) the dance..before the dance can begin, those showing late have to rush to the dance floor before the music can begin
JI
jimkane
Rep: 3,058
Posts: 33,089
Some of you may not know how to do what roofer is showing here using say the tools on QCharts, since roofer has found a way to use StockCharts tools to accomplish what he needs to here. Here's how to do this on QCharts:


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INDU 5min 070909 chart



You can use the projection tool to do an expansion in QCharts, just click the third point on the same second point there.



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INDU 5min2 070909 chart



Follow this up with a standard 2.000 external retracement, as highlighted by the yellow anchor line, and you have it. Now you can easily duplicate roofer's setup.



Charts created on QCharts, courtesy eSignal.
MR
mreiserer
Rep: 110
Posts: 2,220
Thanks Jim!
RO
roofer
Rep: 3,689
Posts: 3,574


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