I was watching for 2d long entries coming into today (buying pullbacks in bullish momentum). Some just didn't set up, others failed after setting up. One thing to be cautious of with the 2d long setup is a 2b short setup which can follow if overhead resistance isn't cleared.
Potash Corporation (POT) kept selling lower until finally I gave up on it. The setup worked insofar as you got the breakout of the overhead trend line and the 50% projection target was achieved, but the other half of your trade would have been a scratch.
Baidu, Inc. (BIDU). I didn't trade this either. The best setup entry occurred at the open. Notice that price failed resistance and rolled over (2b short setup).
The S&P 500 (SPY) had two instances of this setup. I tried trading the first entry on this but never got filled. Again, the 50% projection was achieved but that was all. Later in the day the 2b short setup triggered.
Google (GOOG). A triangle breakout 2c-2d setup, exits at the 50% & 100% projections. I took this long trade and shorted small size at the 100% projection level and got lucky, covered at the 50-MA.