Kroger - - First Look

Our First job is the look at a clean, long-term chart for KR.

I have high-lighted the primary lows and highs in this chart here:

http://tos.mx/nmsqhc

Now, each MM consists of a 100 and Zero line (0)  - - and in long MM setups, we use Fibonnacci Retracements, which have the following attributes:

>>>100 and Zero lines show us our RANGE   - - they are WHITE.

>>>the 50% line (in yellow) is the price level which is computed by subtracting the zero line from the 100 line, dividing it in half and again subtracting that result from the 100 line or adding it to the zero line values.

>>>>the 61.8% line (in pink) is the break line and the 38.2% line is a ZIG ZAG level, where price often retraces again and then fails to move higher and then price proceeds higher (in a long MM).

>>>>>The -23.6% line is the PROFIT TARGET of our Setups....

Once price hits a high (zero line) price moves LOWER and reverses at or near the 50% line and then price moves back up PAST our zero line and into a Target.

My very first effort with any new chart is the retrace (show myself) the COMPLETED MM's.

In KR, we will find our completed MM's first.

DJ