There weren’t many places today where price actually retraced to one of the fib lines, but I finally got a small retrace so I entered. The problem with doing these narrow-range trades like this is that the fib lines often don’t match actual prices where you can buy. You can see the red fib line is at like 1133.33, but obviously you can’t buy the ES there.
So in most cases, when this happens, I put the buy order under the line at the closest valid price (to get a little better price than if I put it above the line). That’s why the green arrows (buys) don’t line up exactly with the fib lines.
Shortly after closing out this trade, I got disconnected from OEC for a few moments. It instantly reconnected, but I was hesitant to take any more trades for the rest of the day.
PnL for the day.
9 contracts total in that one trade, but I averaged down, I didn’t do 3, 3, 3.