This set-up is similar to Friday's WEN set-up.
I actually like ESLR better, but give it a "B" because I prefer set-ups that happen after three bars (my experience is that the most reliable set-ups occur after at least three bars).
But, the hammer was perfect on top of the retracement zone, and if you held a portion of the position after the original target was hit, you saw a nice continuation above the Fibonacci extension and a clear signal to exit the remaining position on a break of the sixteenth bar low.
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Tags:
Trader-X, Stocks, Fibonacci, ESLR
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