1.) What did I see?
A gap up and strong first bar. The second and third bars were narrow range, inside bars and doji candles. My view of these two candles is similar to what I talked about in the NTAP trade; in the case of GLW, they represented consolidation at the high and since they could not take price down, a break of the high of these candles was be a bullish sign.
2.) What is the entry?
A break of the third bar high.
3.) What is the exit?
1/2 closed at the Fibonacci extension of the previous day's low to the opening range high. The other 1/2 closed on a break of the 10th bar low. At this time, it appeared that GLW was running out of steam so I wanted to protect profits. As you can see, GLW made a nice pullback and then continued to new highs (hindsight is 20/20 - still, this was a nice trade).
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