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Tuesday, September 27, 2005

WAG - 092705

1.) What did I see?
A gap up over the 34MA, and strong (first three) bars. The third bar was narrow range with a strong close, and all had higher bottoms.
2.) What is the entry?
A break of the third bar high.
3.) What is the exit?
I was looking for a target at the Fibonacci extension. I was worried when the eighth bar turned down, but it did not come close to my stop*. WAG recovered nicely to hit the target towards the end of the day.

*stops are always a break of the low (if long) or high (if short) of the entry bar, unless otherwise noted.

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