papajohn

Attempt at a number 5 dip buy bounce play. I'm still trying to figure out how to play these. This one had a decent first green day after a pullback from it's spike on the daily chart, but didn't have any continuation on day 2. Not sure if this was a good play that just didn't work, or if I was missing something in what I was looking for in the setup.

3
10

DatePrice
Entry1/25/20184.39
Exit1/26/20184.22
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StevieW
2
StevieWJan 27, 18 5:25 PM

Looking for a gap up above the prior close after a big sell off. 1/3 size entry early in the morning after the first 15 min of the market open with risk on prior day low. After first 15 min of market time, I will move my risk to g/r to make sure I don't get caught in the further sell off. Then when it breaks the prior day high, I go full size with a goal of 10-15%. This is how I have played them in the past. PRMCF is a good example of the strategy. Back on Jan 22nd. Hope this helps!

papajohn
papajohnJan 27, 18 5:43 PM

@JKelly Nice! That is very helpful. Thanks!

StevieW
StevieWJan 27, 18 6:07 PM

@papajohn No problem man. Congrats on going profitable btw. I had the same thing happen. I blew up a $6,400 account. I just recently made it all back over the last 120 days.

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