Monday, September 28, 2009

Another typical example of the power of the daily fib pivots. Asia took and hit the 61.8 PDMM projected from the PDC.

After Asian we look to apply the PDMM to the current high or low of the day and use that for the targets in the opposite direction. We have now hit 100 PDMM projected from CHOD. At this point we are possibly taking partial or full profit but watch for breakouts beyond the 100 PDMM. Breaks beyond the 100 PDMM are only about 1 in every 3 or 4 days for a pair. When it does break, look for target levels established in the preceeding days.

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