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Whether you trade the S&P futures, the Q's, listed or Nasdaq stocks, Carolyn Boroden's S&P and Nasdaq Price Levels service can be one of the most important tools for your success. The service provides the subscriber with “key” support and resistance levels based on Fibonacci timing, on both an intraday and daily basis. These levels are updated periodically throughout the day if needed, and on most days, it is!
In addition to key Fibonacci support and resistance levels, another key to maximizing your success with Carolyn's service is using Fibonacci Turning Points.
One way in which you can utilize this aspect to ensure a more effective signal is to look for a CVR Signal on the TradingMarkets Market Bias page. The most effective way to combine these two powerful signals is to look for a CVR Signal, and then look for a Fibonacci Turning Point triggering on the same day or within 1-2 days.
By looking for these two different trading strategies to converge, you are combining key elements of time and volatility to generate a potentially more explosive and profitable trade.
Lets look at two examples:
A) On May 22, 2001,
the S&P and Nasdaq Price Levels Service indicated a
Fibonacci turning point high for the NDX; that same day we received a CVR
I Sell signal.
Entry
on the close at 2043, and exiting three days later on the close at 1961--a gain of 82 points.The second example occurred on May 30, 2001. According to the service, there was a potential turning-point low in the NDX. The following day, May 31 (one day after the service indicated a potential turning point), we received a CVR I Buy signal.
Entry off the CVR I signal on the close
at 1800, with an exit three days later at 1924 on the close, a move of 124 points.In conclusion, by looking for multiple entry signals by two or more unrelated triggers, such as the Fibonacci Turning Points and a CVR Signal,
you can greatly increase the overall profitability of your trading.The
S&P and Nasdaq Price Levels service, on its own, can generate some impressive and profitable trade opportunities. As a TradingMarkets.com member, you have access a plethora of tools to make your trading even more profitable by simply combining the parts to make a whole. is a private money manager who has been trading for over 15 years in both the intermediate-term and swing-trading time frames. His trading incorporates a combination of momentum, volatility, proprietary technical tools and fundamental data. He is currently conducting advanced volatility research in partnership with TradingMarkets CEO Larry Connors. This research will produce refinements to the Connors VIX Reversal Model which greatly enhances the accuracy and reliability of timing signals applied to S&P Futures and Options trading. Greg is a graduate of Northeastern University with a BS degree in Economics.For The Best Trading Books, Video Courses and Software To Improve Your Trading Click Here
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