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Bought this stock as it was consolidating above HOD. Chinese stock, hot electric car sector, 52Week B/o, strong volume. Lots of things going for it. Wanted a dip out the gate, which I got, but no good place to risk off of as it bounced immediately. Kind of a Chase, but still on a mini pullback off HOD looking for second leg up.
ENRTY:9:45 EXIT:9:55 Got in on a dip @1.85 after a morning spike to 1.90. Set my risk @1.74. I was looking for a NHOD to sell into around the low 2.00 range. The follow up spike topped out @ 1.88, I moved my risk up to 1.80 as it created a channel in the 1.80-1.88 for several minuets. . My risk was breached and I cut losses. Good chart pattern and risk/reward. Will happily take this loss as i am finally focusing on higher odds set ups and following my rules.
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