Wednesday, December 23, 2009

ES Futures - Morning VWAP Line 12/23/09


Here is a situation using the VWAP Line and Fibonacci to trade a 3-wave pattern. We get a tumble on the Housing data, the market corrects to the VWAP Line, which is also near the 50% coorection level, and then the market gives us the third down wave. We missed perfect symmetry by one and a half points, but still a usually reliable trade.

Charles

No comments:

Post a Comment