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Thursday, July 27, 2006

Thursday's action

posted by Tom C:

Trader-X always says hammers that close red are riskier than hammers that close green. And he is right!

But, those red hammers can be profitable if you enter the trade knowing you are taking on increased risk. AZN is a perfect example - the target was the retracement zone from the previous day's high to the opening range (OR) low.

I am out for the rest of the day - have a profitable afternoon!

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