Nice and simple.
1.) What did I see?
A gap up and strong first two bars. There is an orderly pullback in the third-fifth bars, and then price starts back up. The seventh bar forms a hammer and closes above the opening range high (set by the first 15-minute bar). It is not narrow range (as you know I like), but it has those key "bullish" factors going for it!
2.) What is the entry?
A break of the seventh bar high.
3.) What is the exit?
I closed the position just above the Fibonacci extension of the previous day's low to the opening range high for a $1 gain. As you can see, I left some money on the table. The smart thing to do (hindsight analysis!) would have been to close 1/2 at that level, and let the other 1/2 ride - probably closing it at the end of the twenty-first bar (note the bearish long upper tail/wick). But, it was Friday and I was trying to start my weekend. And, it was a good trade nonetheless!
Note - DRI set-up nicely on the 30-minute chart too - see the fourth bar below.
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