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SWN - 110405; 15-minute chart
at 2005-11-12 19:43:03
1.) What did I see?
A gap down - the first bar rallies, but is engulfed by the second, down bar. The third bar is narrow range, a weak candle, and closes below the morning low.
2.) What is the entry?
A break of the third bar low.
3.) What is the exit?
The target was the Fibonacci extension of the previous day's high to the opening range low. The target was reached two bars later.
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