POT was on my watchlist today after it broke down the descending triangle on the daily chart yesterday. It started strong, moved to 182+ where it received resistance form yesterday's intraday support (shown on the 15 min. chart) and started it's journey southwards and retraced 100% of it's up move. There were high chances of POT finding support near the ORL of the day. It soon formed a bullish candle near the ORL on the 5 min. chart. I went long on the break of 174. My target was 176, a little shy of fib. 38.2% retracement. I prefer to take profits before it reaches the fib. level to be on the safe side. It reversed at 38.2% fib. level as expected. I liked how POT reacted to recent support and resistance.
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