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Had a run up to vwap support and bought to risk off vwap for a possible test of HOD. Could not hold vwap and had red candle drop before I can even exit at my planned vwap exit point! Fell near the key level of 8 and I thought a bounce was possible but I did not want to risk it, so I exited. For the future I will allow myself to adjust, because that 8 dollar key level it fell to was indeed the bottom, and bounced back to vwap, and thru it with a push to HOD, which was the move I was looking for
I was correct...just not patient enough! In the next 5 minutes I got the bounce I was looking for, for about 15 cents, off of vwap and 50 EMA support...if I was even more patient than that, even got a .25 cent bounce in the next 10 minutes...sometimes you are better off letting the chart play out instead of getting impatient..will grow and become more patient and comfortable
Learned a lot about myself as a trader on this one. Overall I felt very nervous to hold overnight, I was watching closely into the close and A/H, and did not like how it was bouncing around close to 5 and slightly below it. So on the next little bounce to 5.15 range I sold. I will have to focus on cleaner over night set ups. Glad I protected myself because it did not even gap up today, I would have been down 20-30 cents.
Was looking for late morning bounce off vwap and 50 EMA support, 1-3 cent risk downside and potential 15 cent upside or maybe more if it can retest HOD, seemed weak trying to bounce so took small profits. Turned out was good decision, it later consolidated right at my risk level (2.28) and later dipped below that. Good lesson on attempting trade late morning/heading into mid day. Bounce action was weaker and also with volume being light, selling was slow to execute on only 1k shares.
not the best entry as it was a little late, looking for another bounce off vwap and possibly a test of HOD, but seemed weak when I was in and was one red candle away from breaking support so I exited with small gains to protect. Great decision that ended up being as it literally cracked 60 cents shortly after! This is a great reminder why you must protect yourself first.
late vwap bounce attempt, sensed weakness and was not bouncing very strong so chose to protect myself and exit. had two solid vwap bounces before this one and those were the best opportunities! the later you get, usually the less strength you will see. The first pullback right to vwap support was great entry but I missed that one. See chart for more
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