One that's been in my list for a while now that I never traded.
OCC Daily chart.
First chart is just after the GC, has a good spike up on consistently high volume days followed by a deep retrace back to the 61.8 fib level. Long momentum is still positive.
Second chart, big day back up to test resistance from the down trend. 65 ema gets a kick, along with long and short momentum. Notice the 8 ema topped out just under the 61.8 fib level for the retrace. The question on todays chart, is this a buy signal with two closes above the 61.8 fib level? Had a deep retrace but momentum and volume look great.
Third chart, what it looks like today. If you waited for the 8ema to close above the 61.8 fib, then an entry in the mid 50's. Entry based on price closing once or twice above the fib was a mid 40's entry.
Just goes to show, what was a pretty ugly chart prior to this, turned into an excellent opportunity once we got a valid signal above the fib level. The chart below is also the reason why I'm still hesitant to buy on "support" at the fib levels. A couple of crosses in the 65-200 that never followed through. There was no reason to expect the last GC to be any different until we had confirmation of either price or ema's through the fib grid.
