X is another setup that required some patience - but it paid off.
Price gapped up and pulled back from the opening range high (ORH). I made two entries on this trade - the first was riskier as it happened AT the ORH. The second was more conservative as it was a pullback to the ORH to test that level as support.
Yesterday I mentioned the halfway point between the high (low) and the Fibonacci extension (FE). I received positive feedback, so I included it the dashed lines on this chart. As you can see price paused at that level but formed a nice hammer and broke through within a few bars.
My target was the FE, and it was hit towards the end of the day. Note how price reversed at exactly that level.
(sorry for the box on the chart - I am too lazy to go back and take it out!)
edit - I went back and cleaned up the chart. And, there is further analysis in "Comments".
Trading 27-April-2016 (+ $66)
22 hours ago