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Friday, October 07, 2005

LNCR - 100705

1.) What did I see?
A gap up and strong first bar. The second and third bars pulled back, but only slightly when compared to the real body of the first bar.
2.) What is the entry?
A break of the third bar high.
3.) What is the exit?
The target was the previous day's high. There were several areas I watched closely for resistance...first, the top of the retracement zone from the previous day's high to the opening range low; second, the 34MA. LNCR made a nice move through both, and hit the target a few bars later.

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