May 2, 2008

PTEN - Long

PTEN presented an early entry opportunity off the 5-min chart (6th bar). This was an inside NR7 that formed right at the ORH. Price quickly moved my way and I exited just below the fib. ext. Glad I did as priced dropped down quickly and I would most certainly have been stopped out after revising my stop. This was my only trade of the day.

Have a good weekend.

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