Sticking with the 30-minute charts this week...
1.) What did I see?
A gap up and wide-range first bar. The second bar is (more) narrow range, with a higher low. The third bar is narrow range (NR3), an inside bar, has a higher low, and forms a nice hammer.
2.) What is the entry?
A break of the third bar high (being aware that if price stalls or reverses at the previous opening range high, I would exit*).
3.) What is the exit?
1/2 closed after $1 gain. The target for the other 1/2 was the Fibonacci extension of the previous day's low to the opening range (OR) high; it was not hit and the position was closed at the end of the session for a nice gain.
*as with any entry below/above a previous high/low (in the case of my charts, the opening range (OR) high/low), you need to watch for resistance/support as price approaches those levels. If it stalls, you want to exit. If it breaks through, the odds are good you will have a move to the corresponding Fibonacci extension.
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