We would like to introduce a new contributor to the CBOE blog. Carolyn Boroden.
Carolyn Boroden is a technical analyst specializing in Fibonacci analysis. Her unique form of price and time analysis is quickly proving to be one of the most promising trading techniques using Fibonacci available today. Ms. Boroden’s first book, Fibonacci Trading: How to Master the Time and Price Advantage, was published by McGraw-Hill in early 2008. She has been involved in the trading industry since 1978 starting on the floor of the CME. Ms. Boroden currently produces a video newsletter for her subscribers on stocks and ETFs that are featured on www.fibonacciqueen.com. She participates daily in a trading chat room in a joint venture with John Carter and Henry Gambell of Simpleroptions.com. Ms. Boroden’s work is also featured on TheStreet.com on the RealMoney.com and Options Profits sites. Her analysis is sometimes utilized on CNBC’s Mad Money’s "Off the Charts" segment.
I’ve taken a look at UNP (Union Pacific Corp, $121.68) using Fibonacci time/price analysis and like this current trade setup. The overall pattern in this stock is bullish with price above both the 50 and 200 SMA’s. After providing a healthy pullback I’m seeing buy triggers against the most recent support decision that comes in at the 117.33-120.93 area. As long as price continues to hold above the most recent low at 120.75, my first upside target in UNP comes in at 128.59 and the second at 130.72. My risk is currently defined below this key low.
For more information on how to use my work:
Web site: www.fibonacciqueen.com
FB fan page Fibonacciqueen