1.) What did I see?
A gap down and weak first three bars. Notice the upper-tails as price attempts to rally but fails. The third bar is a weak candle that closes below the morning low.
2.) What is the entry?
A break of the third bar low.
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 high to the opening range low. As you can see, price continued to fall...so, I left some money on the table. But, it was still a very profitable trade.
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