TWB was an earnings gap from the
Briefing.com list. It had a wide opening range, followed by a hammer reversal and a lot of backing and filling. Eventually I spotted, a bearish flag formation as price and the
down sloping 5 period
ema came together. The flag culminates with NR7, the perfect trigger for price expansion.
PTRY, also from the Briefing.com list, was pointed out to me by
Jamie Hodge of Trade-Ideas. I didn't trade this one, he did. But I wanted to post it in all its beauty because it's a perfect example of the opening range breakout generated from our bread and butter setup "
NRIBs" (narrow range inside bars) on declining volume.
I'm keeping
TWB on the focus list for tomorrow, looking for continuation. Next support level on the long term chart is $15.00, so there's still a lot of room.
