Take PROFITS conservatively
We had a few lines this morning where the market could possibly retrace as it headed up, above a 61% Fibonacci line.
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It retraced at the outermost line, at a 1.38 Fibonacci extension line. It was a direct hit.
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Then it came down and turned around immediately at the very first Fibonacci line, where we normally take profits, and started to head back up.
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Always be conservative with your profit taking. The market was very bullish and you have to assume that the market will turn around after it does its correction on the first Fibonacci line.
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Always know where you will take profit. Always know how much profit is available for you, conservatively. Always trade to live another day.
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*** THIS IS FOR ENTERTAINMENT PURPOSES ONLY AND IT'S NOT MEANT AS PROFESSIONAL ADVICE. I NEVER GIVE INVESTMENT OR FINANCIAL ADVICE. TAKE RESPONSIBILITY FOR YOUR ACTIONS ALWAYS ***
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