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Wednesday, September 28, 2005

SWN - 092805

1.) What did I see?
A gap up, strong first bar, and pullback culminating with a "hammer-type" third bar.
2.) What is the entry?
A break of the third bar high. A conservative entry would be 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 Fibonacci extension, and though it made a few attempts to move back down through that level, it never did (decisively).

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