20070409 - SCHN - 15mins - Gain

Symbol: SCHN
Type: Long
Entry: The beginning of the 6th bar
Exit: The 18th bar at Fibonacci Extension
Result: Gained +1.44%

SCHN gapped up with a weak Opening Bar. It then followed by 3 strong bars leading beyond the Opening High. The 5th bar is a weak Doji-like candle that closed above the Opening High. With the rising 5eMA, I took a low-risk entry at the beginning of the 6th bar. My target was 119% Fib. Extension. I was cautioned during the weak 9th bar, followed by a series of Narrow-range bars. Thankfully, it took off during the 16th bar, and hit my target 2 bars later.