First, thanks to Tom C. for an informative post on the "u-turn" setup.
Next, RJ's daughter sent me an email and said she downloaded all the comments (no Internet access in the hospital) and read them to her father, and they both appreciated it very much. We are close to 40 comments - I hope we can double that over the next few days. I am a big believer in the power of positive thinking and I know all of the support and comments will go a long way towards helping RJ recover. So leave him a comment here.
Finally, I did not find many "great" setups Monday and Tuesday, but I still had some good trades. I wanted to highlight a variation of the "top out" where the third bar closes below the halfway point between the morning's high and the 50% retracement. The entry on both charts was a break of the third bar's low.
STT had the added advantage of being turned back down at the previous day's low (the third bar closed back below that level). And if you do a more detailed analysis of GENZ, you will see that price is turned back down at resistance from the FE of the previous day's high to low.
I covered both positions when price reached the OR low (and left some money on the table!).
note - I am done for the day, so the GENZ chart is only through 1:30PM EST.
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