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. Today market was down so I wanted to play in the same direction as the market, so I do not have to fight the bears.
There was a small 1/2 bar pullback and I saw the opportunity to enter below the 1st 5 minute bar, adding in my direction. I exited on the next whole number taking off my profits and closing my postion.
These strategies are well explained on my DVD:
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