At 10:30 AM, GS (following a second touch of the 50% fib retracement line on less momentum) started to form a narrow range/low relative volume series of bars on the 1 minute chart. The consolidation occurred at the bottom of the fibonacci retracement zone of the previous day's low to the opening range high. I went short on the 10:41 bar.
Thursday, October 30, 2008
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