I found RIG on my daily list and moved it to my gap list this morning as a Tier III type gap. RIG was just on a power trend all day when I happened to notice a nice 5 bar pull back into the rising 20 ma, at a 45 degree angle, with the 40 ma underneath giving us that beautiful railroad track look, and last but not least a nice 3-1 risk to reward. We did not have a COG but we did have a narrow range bar for our trigger bar and I was in over the top of this small little doji type bar. For those learning, this is a text book play off the 5 minute chart, a play does not get any better, I soon found myself @ target 1 selling 1/2 of my shares and soon my back 1/2 was sold at target 2. RIG was so powerful that it went another .50 cents after my target two area which was taken from a weekly time frame. A nice 2 R play in RIG and I'm about even on the day...
