After a profitable May (paper trading) trading mid day perk patterns ON I felt confident getting back into live trading. I bought TOPS in the afternoon above vwap with the goal of HOD. I felt it could spike the next day, but it failed and I got too stubborn and held too long. Note: Watch PRE market price action and DON’T hold and hope like I did. My worst loss so far. I should also scale down my size until I get better at this pattern.
It held yesterday high so I entered for a morning spike up to multiday high of 3.50. I got out when it hit my risk. Would have been a perfect dip buy if I had waited for it to test support @ 3.00 instead of buying at the open. Note: WAit for the pullback and consolidation for a dip buy
I re entered on the dip hoping for a push back up to its high (which it dit later), but I sold at multi day resistance 3.50 both because I had to leave and because it look weak. It pushed higher through the day, but my ultimate entry would have been on the B/O above yesterday high 3.20 from market open. This was a revenge trade after my FOMO trade. Note: Watch the dips more closely and don't over trade.
I entered on a pullback after a B/O above HOD. It looked like it bounced off of the new support level, but instead it failed and cracked below so I got out. Even on good volume. I am happy that I got out because it dipped further down. Note: wait for entry after the consolidation
I entered on a pullback after it had B/O above HOD. It had some resistance in the 1.45 area but it never actually got up there again. Instead it failed and got down to 1.22ish. I got out at my risk level. There was low volume when I entred. Note: Wait after the consolidation so the B/O can be confirmed