Really don't like this trade, however, it was a #7 on the daily in a very slow market and the stock has dilution, and has been getting obliterated every single day. Today was just the day that it decided to squeeze out a lot of shorts. Huge bidders supported at $7 and it eventually went to $9. I didn't have this stock on my main WL but I did see this as a secondary patten and it had already rejected r/g, and I got in into a pop + a turn instead of a straight chase. I just don't like being wrong
| Date | Price | |
|---|---|---|
| Entry | 9/4/2024 | 7.03 |
| Exit | 9/4/2024 | 7.19 |
- Total Views8
- Position Size230
- Percentage-2.28%
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-esp. on non- traditional patterns, but I have been incorporating and learning the #7 and it is a part of the framework. The largest flaw here is that the PDV was only 3-4M which makes this an automatic "no trade." I just need to learn from this standard sized loss and move forward. It's ok to take losses, but they need to be qualified setups with above all else, VOLUME.