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Very happy with this trade. Reminded me of when I was consistently profitable with OTC panic dip buys. Good downside symmetry. First trade, cut half position at resistance and nlod. Rebought after 1.5 key level held w/ tape & L2 aligning for a better bounce. Sold into strength in quarters. Scaled out a total of 3/4 when I started losing upside momo conviction. Processed last 1/4 in case I was wrong, cut as it shifted for downside.
The m/o held with upper shadows, entered after it broke above the shadows as strength w/ volume. Cut 1/2 as it seemed to shift. Strong red candle for a temporary momentum shift and got out last half as it didn't seem to retrace that candle as a fakeout, but rather confirmed the direction. Later made a good lod & excellent sideways segments above it, had one last dip just above the lod and ran really well.
Had a couple entries and exits that isn't showing in profit.ly, but that's cool. I was looking for an entry after a couple pullbacks in case this had potential being a good multi-day runner like XELA, but continued to grind lower than I thought and kept the bigger picture trend instead of reversing. Still watching.
Bought the dip for the rip like OCGN did that day, but OCGN remained a little flat around support before it's dip, whereas this one was choppier. Already had a large move outside of trading hours so cut quickly the first time, but wanted to give it a chance for strength past m/o price, so got in lower and sold even lower than that. Thesis broken. Happy to be out.
IPO's have been hot after 5+ days of downside with very short-term reversal spikes before continuing with downside. Momo didn't continue like others did, shouldn't have given it time like I do other setups, undisciplined exit for first half for not getting out sooner. Second half was good. Literally got in the worst one on this and nothing continued later except HTCR. Noticed volume came in it earlier, but did not heed it due to slow movement and the day job before it spiked really well.. twice.
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