MACR - 120205; 15-minute chart at 2005-12-04 19:51:27
Nice and simple makes money.
1.) What did I see? A gap up and strong first four bars (well - one, two, and four). Bars five through seven make an orderly pullback and stay above the opening range high (they also narrow in range). The seventh bar forms a nice hammer. 2.) What is the entry? A break of the seventh bar high. 3.) What is the exit? 1/2 closed at the Fibonacci extension of the previous day's low to the opening range high. The other 1/2 closed after $1 gain.
