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Thursday, December 29, 2005

EPAY - 122905

1.) What did I see?
A gap down and wide-range first bar that rallies off the low. The second bar is narrow range (compared to the first), a textbook hammer, and closes in the top half of the first bar's range.
2.) What is the entry?
A break of the second bar high.
3.) What is the exit?
The top of the retracement zone from the previous day's high to the opening range low. In hindsight, the 34MA would have made a better target but I will take the profit!

Notes - the total for this move was just under 5%.

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