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Thursday, October 06, 2005

FTO - 100605

1.) What did I see?
A gap down and somewhat strong first bar. The second and third bars were narrow range, inside bars - both with long bottom tails. In addition, the third bar formed a nice hammer.
2.) What is the entry?
A break of the third bar high.
3.) What is the exit?
I normally close 1/2 after $1 gain, but the fifth bar was so strong I held and closed the entire position at the retracement zone of the previous day's high to the opening range low.

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