MT (gap down)
Weak first followed by 2nd which remains below OR. The 3rd restests OR from below and also closes weak. This is our short trigger. We fall nicely after entry and take partial at 2R which is in the Fib Ext region and leave the rest to run. I was hoping for a trend down, but the pullback was strong and 2nd half stopped out at breakeven. Overall a net gain of +1R.
AXP (gap down)
The first is weak as it falls thru previous day's low. We break OR on 4th as market weakens. This is then followed by a shallow retracement to ema where we encounter resistance. The 9th is bearish as it rejects the ema. The 10th is similarly bearish and in addition closes weak. This is our short trigger. Although we fall initially, there is no follow thru as it chops around sideways. I closed later in the session for breakeven as it didn't seem to be going anywhere despite market downturn.
AMZN (gap down)
First candle bearish. Although the 2nd shows some strength, it is offset by the 3rd which is weak off the ema and also closes weak as it crosses the OR. This 3rd is our short trigger.
We fall nicely after entry and take partial at 1R. The rest was left to run and came back to breakeven. Overall a net gain of 1/2R.
------Fib and R values ---------------------