Thursday, April 3, 2008

Tonto Trade - CROX


At the open CROX chopped and rallied to the daily PP from 03/19 which was also R1. Since the session was so choppy, I did not want to enter below that PP so I decided to wait for a dummy entry above it. Bar 7 closed above the PP and the following bar was an IB with declining volume. My first target was R2 and the second target was the fade-the-gap PP. My entries and exits are marked in the chart.

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