081407 - FOSL - Observation

• I was watching FOSL as it approached the Opening Low, and I just couldn't pick out an Entry!
• Because I was ONLY looking at the 10mins chart!
• Now that I have switched back to the 5mins chart, I did see a potential entry
• But as noted on the chart, I would have stopped out almost immediately, and would have felt discouraged to re-enter the trade (5mins)
• As for the 10mins chart, the 7th candle (inverted hammer) was tempting! It closed below the 5eMA, but failing to close below the Opening Range Low was the reason why I didn't enter the trade
• By the time the 10th candle closed 'way' below the Opening Range Low, I thought the move was over and gave up on FOSL