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Friday, October 14, 2005

CELG - 101405

1.) What did I see?
A gap up and weak first bar. The second and third bars reversed and took out the high of the day. The fourth bar was a pullback and "hammer-type" bar, and closed above the retracement zone of the days low to high.
2.) What is the entry?
A break of the fourth 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, but it set-up nicely to continue the run.

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