Monday, February 21, 2011

MMM – Swing – A Chase

MMM - 2011-02-20 214115 - 2y2m6d - 1w

  • Pulling the Fibonacci from March 09’ low to October 10’ high shows that the prices have just moved past the Resistance 2 weeks ago

MMM - 2011-02-20 214142 - 1m7d - 1d

  • I’m attempting a chase here…
  • My Entry will be the top of the Hammer, just above the round-number of $93
  • My Stop will just the underneath of round-number $92
  • My Target will be the 138% Fib of $110
  • If my Target is reach, this trade would yield some good profit 

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