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Tuesday, October 11, 2005

IRF - 101105

1.) What did I see?
A gap down and weak first bar. The second bar was narrow range and a pause in the action, and the third bar continued the down movement with a weak candle closing below the first bar low.
2.) What is the entry?
A break of the third bar low.
3.) What is the exit?
1/2 closed after $1 gain, the other 1/2 closed at the Fibonacci extension of the previous day's high to the opening range low.

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