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Wednesday, November 09, 2005

PIXR - 110905; 15-minute chart




1.) What did I see?
A gap up and weak first bar. The second-fourth bars rally to close above the opening range high, and the fifth bar forms a hammer on top of that same opening range high.
2.) What is the entry?
A break of the fifth bar high.
3.) What is the exit?
1/2 closed after $1 gain, the other 1/2 closed at the Fibonacci extension of the previous day's low to the opening range high.

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