Wednesday, September 10, 2008

Hot set-up

The stock was consolidating previous day and formed a doji in the daily chart. Price opened below 10 MA and hold very nicely. Enter a full position just below the narrow range bar. Stop-loss above the NR bar. Exit a quarter of the position at 261%, another quarter at 423% and exit rest at the end of the day. Risk:Reward=1:14.(Risk was only 16c)

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