GT - 102705

1.) What did I see?
A gap up and strong first bar. The second bar attempted to retrace the opening move, but could not penetrate very far into the real body of the first bar. The third bar was strong, and most important it closed at the high. Also note that the third bar was a narrow range, inside bar.
2.) What is the entry?
A break of the third bar high.
3.) What is the exit?
The target was the Fibonacci extension of the previous day's low to the opening range high (the top white line on the chart). As you can see, GT just missed hitting that target on bars four and five. I closed the position on a break of the fifth bar low.