Carolyn Boroden of Fibonacciqueen.com reviews a new buy setup zone in shares of SPY using Fibonacci Analysis. There is a formula for making money with Boroden's Fibonacci Time and Price discussed on Options Profits and Real Money Pro. Boroden looks for three trade setups: Fibonacci Price Cluster, Symmetry or Two-Step Pattern. It's true there was time and price resistance in at this last high in the S&P cash, but at this point the decline is similar to others in the past and there is not much to worry about just yet. Boroden looks at the projections from the last swings and builds a price cluster of support. She identifies some symmetry and runs price relationships and support levels. $198.98 is the target with tight stops.
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