Fibonacci extensions


Micro Mini NQ Chart Review / Fibonacci Extensions; Thanksgiving Holiday Schedule & Support and Resistance Levels 11.24.2021

November 23rd, 2021 Filed under Future Trading News, Index Futures | Comment (0)

Dear Futures Trader,

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An exercise in Fibonacci extensions….

As the NQ started moving lower today ( I actually prefer the MNQ as it causes less stomach ache when moves against me….), I was looking for a target profit on a short position a client of mine had.
I draw FIB extension for yesterday sell off move and applied it to the high on the bounce made early this morning….Today it turned out out to be an excellent tool (click for LARGER IMAGE)….gave me targets, possible trailing stops, possible re-entry and more ( always easier looking back after the fact)….Of course there are many times where this will NOT work but you may want to take a look at Fibonacci extensions as another tool in your arsenal and just Fibonacci retracement….
Micro Nasdaq #MNQ 15 Minute Chart
Short Trading week ahead with Thanksgiving Holiday this week.
See trading schedule below, be aware of the different reports, what is the market focusing on and the different closing times for the different markets between tomorrow and Friday/Sunday evening.
CME Globex Thanksgiving Holiday Futures Schedule 2021

Good Trading

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Futures Trading Levels

11-24-2021

Futures Support and Resistance Levels 11.23.2021

 


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