ABX from my WL, gapped down on the open near the lows of its recent daily trading range. It formed a bear flag over the course of the morning. A slow mover, but it eventually got the job done.
ESRX formed a C&H, or so I thought. I entered as price broke R2. It started out well, but then came the retest after which I expected it to move like a C&H should move. But no, it stalled and I decided to partial out at the 25% Fib. extension of the ORL to the base, and move the stop to BE.
2 comments:
Jamie,
I saw both of these setups today - between meetings and after the fact. Notice that the optimal entry points came shortly after 30m IBs.
Hey Jim,
Thanks for pointing that out. Guess I should be looking at 30 min. charts. I just get a little impatient waiting for a 30 min. bar to complete itself.
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