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Monday, September 26, 2005

ECA - 092605

1.) What did I see?
Gap down and a strong first bar. Second bar is narrow range, and closes above the 50% retracement of the previous day's high to opening range low.
2.) What is the entry?
A break of the second bar high.
3.) What is the exit?
1/2 closed after $1 gain, the other 1/2 closed at the end of the day. I watched this trade closely at the 34MA, but it set-up nice to continue the move.

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