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Tuesday, November 15, 2005

ESE - 111505




1.) What did I see?
A gap down, with the second-eighth bars "skating" along the morning low - but never breaking below that line (bullish). The fifth-eighth bars formed a nice narrow range, and the eighth bar was a nice "hammer-like" candle.
2.) What is the entry?
A break of the eighth bar high.
3.) What is the exit?
1/2 closed after $1 gain. The target for the remaining 1/2 was the retracement zone of the previous day's high to the opening range low - it was not hit. But ESE was strong through the afternoon, and I closed the remainder of the position at the end of the day.

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