Play it 'til it breaks...

Yet another 50% following a 61.8% I play these until I see a change in this pattern. Yes, it will happen eventually but trying to guess when, will drive a trader crazy and leave the opportunity to the algo traders. You have to be methodical, even robotic about your trade selection. Your emotions will almost always lead you into bad trading decisions. That's why we're "technical" traders. If you're not already in, there's still a buy here with a reasonable risk-reward and plenty of upside potential. Stop under the pivot if you want to keep the risk very low or the 61.8 on the 12hr chart to give it a little room to breathe. The more conservative can wait for the oscillator to turn. Your trading rules should dictate...