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Friday, December 23, 2005

DVN - 122305

Textbook! And simple!

1.) What did I see?
A gap down and wide range first bar. The second bar forms a perfect hammer, and closes above the opening range low set by the first bar.
2.) What is the entry?
A break of the second 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 after Noon.

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