The Daily chart on the 24th closed with a hammer pattern which equates to a morning star formation bouncing off of the inner trend line and breaking a counter trend line on the four hour time frame. The small body candle on the close of the 7 PM 1 hour and 15 minute time frame was indicating low volume; however considering the bullish convergences on the large time frame the decision was made to execute a buy trade risking 10 ticks with a risk to reward ratio of 6 to 1. The trade worked out overall netting $600.
