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Tuesday, October 04, 2005

TXN - 100405

1.) What did I see?
A gap down and weak first bar. Bars two through five could not rally or make any significant move into the first bar's real body. The sixth bar was a narrow range, bearish candle.
2.) What is the entry?
A break of the sixth bar low.
3.) What is the exit?
The target is the Fibonacci extension of the previous day's high to the opening range low - hit at the end of the day.

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