A generous trader has been helping me and many others to understand Fibonacci retracements and projections. Thanks Mr. Soul. His blog is here: http://rockinfibz.blogspot.com
Following his lead, I thought I would add them to my EXAS chart. It is interesting that the the initial support comes in at the 61.8 fib of the gap and the secondary support came in right at the 50. Now I didn't take positions at either. Rather my buy was the range expansion where the last "N" on the chart appears.
I became bullish on EXAS after watched the gap hold at the first "N" and then again at the same level--Which I now know was the 50% line. Now if EXAS takes out the resistance, I'll have some clear skies. I'm planning on using the 6EMA has my stop here.
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