SNDA - 112805

Back to the 30-minute charts

1.) What did I see?
A gap down and weak, wide range first bar. The second bar is weak, but is an inside, narrow range bar. The third bar is also an inside, narrow range bar and shows strength as it rallies to close back above the opening range low (the OR low was the low of the first 15-minutes). The fourth bar is narrow range, and a "hammer-like" candle that also closes above the OR low.
2.) What is the entry?
A break of the fourth bar high.
3.) What is the exit?
The target was the retracement zone from the previous day's high to the opening range low. It was hit two bars after the entry.