This is the pattern I play quite often, its part of my strategy called - 5-minute power bar pullback play.
As you can see on the charts, the 1st 5-minute bar was a good decent bar down. This was a gap down stock that caught my attention.
Though the market is up today, this stock is one of those that is roaring down and is pretty weak due to earnings last night.
The pullback was more than what I would have liked but still, it did not break the 1st bar high which means I can still be in the trade. I added as the stock went down and took my profits towards the low of the day. Another excellent trade with my strategy.
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