1.) What did I see?
A gap up and strong, wide-range first bar. The second bar tries to sell-off, but does not penetrate the 50% line of the first bar's range. The third bar is a narrow-range (NR3), inside bar that closes green. And, both the second and third bars print higher lows.
2.) What is the entry?
A break of the third bar high*.
3.) What is the exit?
1/2 was sold after $1 gain; the target for the other 1/2 was the Fibonacci extension of the previous day's low to the opening range high. It was hit just after 2:00.
*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. JOYG made a decisive break of the OR high on the fourth bar.
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