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Max,
My call is that if the OP at 36 1/2 holds and there
is a DRPO failure, then there is a strong possibility of the retracement being
the final leg of a "gartley" concluding at around 67 - 68.
Going long at 36 1/2 with a S/Loss @ 34 1/2 may
give a healthy profit.
The "gap down" at the opening is of concern,
so perhaps it would be prudent to wait until the stock has retraced to the
41 level before entering Long.
The conservative approach would be to wait until
the completion of the "gartley" and short the stock at the 67
level.
Not exactly the Dlevel approach, but certainly
based on Fib analysis
Anyone with other thoughts?
JdF
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