Welcome to the Trader-X blog!

> TRADEthemove.com - my thoughts
> meditationSHIFT (formerly "tad")- just say "om"

Tuesday, October 18, 2005

NVS - 101805

1.) What did I see?
Textbook three bar set-up. A gap up, stong second bar that pulled back at the close, and a third bar that formed a "hammer-type" candle.
2.) What is the entry?
A break of the third bar high.
3.) What is the exit?
As long as price does not stall at the Fibonacci extension of the morning's low to high, I am holding for $1 profit. NVS blew threw the Fibonacci extension, and the target was hit 1 1/2 after the entry.

No comments: