Promoted from comments:
"X, today was my best day in a long time. Thank you for all of your guidance and for keeping a great site for so long. I had several profitable "u-turn" setups and several profitable "beyond the Fibonacci extension setups". I wanted to ask you about one in particular, COG, and see if you would have taken it. I entered on a break of the seventh bar's high with the following rationale:
1.) Support from the 5EMA.
2.) Second time through the Fibonacci extension (the fourth bar closed above it previously).
3.) The seventh bar (trigger bar) closed at a new morning high.
The only issue I see is that my trigger bar was somewhat overextended (after the first bar, it was the widest range of the morning). Thoughts? My exit was at $45, which is another trick I learned from you. I watched $44 closely and would have exited if price broke below the 5EMA. It didn't, and I ended up with almost a 4% gain.
PS - my chart parameters are 5-minute, Fibonacci plotted from the previous day's low to the current day's open, and 5/8/100EMA."
Todd, I think you had a solid analysis of your setup. I didn't trade COG, but had I seen it I would have given it serious consideration. I see what you mean about the wide-range trigger bar, but as you pointed out it had solid support from the 5EMA and closed at a new high for the day. Nice trade!
Here is Todd's trade with the trigger bar and exit marked:
Trading 27-April-2016 (+ $66)
22 hours ago