The stock just recently finished a top and is no in a downtrend. After this strong run 23,6 wouldn’t be enough for me to make a first entry.
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@jkb92 I understand your view. For my Blue Chip Fibonacci Strategy, the first buy is not intended to be the largest buy. The idea is to start small at 23,6 % and scale in gradually if the price moves lower. I'm not trying to predict whether the correction is over. I'm simply following a systematic approach and letting probabilities work over the long term.
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