Fibonacci Trade Signal In DIA

Here's a recent trade setup we got in the DIA.  The setup included a symmetry projection of a prior decline along with a .618 retracement of a prior swing.  The top end of the key support decision came in at the 332.26-332.76 area, which held on June 18.  The swing trade trigger came on June 21 with the 8/34 ema crossover to the upside, where DIA also took out a prior swing high (see on the 15-min chart below).

So far we've seen a rally of $15.53 from that last low. We still have higher targets if the market wants to give them to us at 352 and higher. I will always suggest that a trader trails up stops as we go as we don't ALWAYS make the targets and we need to protect profits.

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.