20070409 - TRN - 15mins - Gain

Symbol: TRN
Type: Long
Entry: The beginning of the 6th bar (The arrow was at the wrong candle. It's the one after the hammer)
Exit: The 10th bar when it crossed the 138% Fib. Extension
Result: Gained +1.44%

A strong 4th bar followed by a Hammer-like candle on the 5th bar with a rising 5eMA led to go Long on this setup. Looking back now, I don't know if I have made the correct decision because the entry price was already closing in on the 119% Fib. Extension. Had the price not move beyond the 119 level, I don't know if the profit/loss ratio is that attractive at all.

But as soon as I entered the trade, the price just went loose and continued to rise. I monitored my stop closely and made adjustments. As soon as my 'entry-bar' had completed, I knew that I need to adjust my target to the 138% level. Unfortunately, it was reach 4 bars later and I exited. I'm happy!