GPN - 051506; 15-minute chart
posted by Trader-X:
1.) What did I see?
A gap up and two wide-range first bars. The third bar narrows in range and closes in the upper half of the morning's range. The fourth bar is the narrowest of the morning (NRM), closes strong, and closes just above the opening range (OR) high.
2.) What is the entry?
A break of the fourth bar high.
3.) What is the exit?
The target was the Fibonacci extension of the previous day's low to the opening range high; it was hit five bars later.
Set-up grade = B (really close to an "A")
__________
Tags:
Trader-X, Stocks, Fibonacci, GPN
1.) What did I see?
A gap up and two wide-range first bars. The third bar narrows in range and closes in the upper half of the morning's range. The fourth bar is the narrowest of the morning (NRM), closes strong, and closes just above the opening range (OR) high.
2.) What is the entry?
A break of the fourth bar high.
3.) What is the exit?
The target was the Fibonacci extension of the previous day's low to the opening range high; it was hit five bars later.
Set-up grade = B (really close to an "A")
__________
Tags:
Trader-X, Stocks, Fibonacci, GPN
2 Comments:
Hey X - did you go to the game in Houston last night to boo Bonds?
No, but I have tickets for the next two. I hear he is sitting out one of those. I should go to boo the Astros after last night's killing.
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