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Saturday, February 04, 2006

COHU - 020306; 15-minute chart

Sporadic posting continues...

1.) What did I see?
A gap down and wide-range first and second bar. The third bar is narrow-range (NR3), an inside bar, and closes weak below the opening range (OR) low.
2.) What is the entry?
A break of the third bar low.
3.) What is the exit?
1/2 was closed after $1 gain. The target for the remaining 1/2 was the Fibonacci extension of the previous day's high to the opening range low; it was never hit and I closed the remaining position on a break of the ninth bar high.

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