December 19 - MEE

After the initial swing down, buyers try to recapture the high of the day (first bar high and open price for the session), but are unable to make it there. Price then slices through the PDL and pauses, that is where I entered. I am still figuring out the exit strategy. I exited as soon as I saw some buyer's power, but maybe it would have been smarter to take a partial at the swing low of the day and then let the stock ride.

I am posting below a trade from yesterday, which was a very difficult day around the house. There was a freeze the night before, which is unusual in the area I live (north of San Francisco), so a pipe line on the roof broke. I was half hour into the trading session and I had to stop everything and get a plumber to fix the issue. Anyway, the whole ordeal took most of the day. But I was fortunate to see this setup in the last hour of the session. I exited at the 38% fib extension.