Something new for you guys...
1.) What did I see?
A gap down and rally into the retracement zone from the previous day's high to the opening range low. At this point, LKQX is our classic "bread and butter" set-up, but I could not find a good entry. I kept it on my screen, and later in the day saw a textbook "gravestone doji" on the nineteenth bar. This is a bullish reversal candle that occurs after a downtrend - it has a small real body and a long upper tail.
2.) What is the entry?
A break of the nineteenth bar high.
3.) What is the exit?
I closed the position at the end of the day when price hit the 34MA.
Notes - I find the "gravestone doji" candle and pattern very reliable, and will highlight it more in the future.
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