Bill Graves![]() Veteran ![]() ![]() Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona ![]() | Hi Tom, You are exactly right. You wrote: The entry point (Buy Stop) was the high of the bar immediately preceding the penetration (or touch) of the 20-day EMA. That, of course, would be on June 4th as marked. As you can see, however, the trigger bar can change if price goes lower. -:) I will indeed try to get answer about distance of penetrations through the 20 EMA. The 1.28 FIB Extension (or more properly the 1.272) is computed by identifying 3 points: 1. The 3/5/07 Low @ 51.00 2. The 5/21/07 High @ 65.50 3. The 6/8/07 Los @ 61.23 This will produce a 1.272 FIB target at approx 79.50 The next most common target would be the 1.618 at approx 84.50 You could generate closer targets by using the 4/2 Low instead of the 3/5 low and come up with a 1.272 @ 71.81 and 1.618 @ 74.67. I use the eSignal FIB extension tool to do this. I don't know how to do this with OT's FIB tool. I am guessing it cannot because Kris wrote an indicator to do this: http://www.omnitrader.com/omnitrader/proforum/thread-view.asp?threadid=1045&posts=7 See Kris' post #5227 with his custom indicator. Cheers, [Edited by Bill Graves on 6/14/2007 3:08 PM] |