1.) What did I see?
A gap down and weak first bar. The second and third bars continue down, but also leave lower tails (somewhat bullish). The fourth bar is a nice hammer that forms at support from the OR low, and closes above the opening range (OR) low. It is also the narrowest range candle of the morning (NRM).
2.) What is the entry?
A break of the fourth bar high.
3.) What is the exit?
The target was the retracement zone from the previous day's high to the OR low. It was hit at the end of the day.
Set-up grade = B+.
Note - LM was a good short. Answer the three questions on your own.
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Tags:
Trader-X, Stocks, Fibonacci, Trading, AZN
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