20070419 - TXT - 15mins - Gain*Paper

Symbol: TXT
Type: Long
Entry: The 8th bar
Exit: The 13th bar
Result: Gained +1.3%

When I saw 4th bar as a 'large hammer-type' formation, I started to monitor (TXT) a little closer this morning. However, prices failed to pierce through the $100.20 mark from the 4th to 7th bar. That's when I told myself that if the price goes above $100.20, along with the rising 5 eMA as support, I will enter 'Long', until I reach the next Fib. level.

It happened on the 8th bar, and my target was reached during the 11th bar. I didn't exit then, because I wanted to let it run... hoping that it will reach its Opening Range High. Unfortunately, the 12th bar scared me, and I exited during the 13th bar pull-back because I want to make sure that I pocket the winnings.

Question for my Reader(s): Would you have exited on the 13th bar, and Why?

I would like to hear from you.