Got the entry i wanted low 5s. Couldn't reclaim VWAP. Entry was solid, let the dip form. Then it set a lower high and lower low. Ask just didn't let up, constant wall on every downtick. Risk was 5, I know that yesterday I said I wanted to let my risk play out but this one had more concrete signs to sell.
Couldn't push even though bid would stack pretty well...lots of sellers in 4.20s. Tried to think of who would be selling there, couldn't come up with anything. Fundamental catalyst will probably be better than just a technical catalyst. Out because it looked like a head and shoulders was forming. Maybe just too early, thought about swinging.
Risking double bottom at .31. 32 cents was key, VWAP. People showing size whenever it touched that level. but it could never crack. Volume was ok. Thought there was enough buyers on the tape to get a crack but .32 held strong. 5 minutes of waiting for a crack. Got uncomfortable so I'm out.
Chased entry. Initial thought was .32. should've entered on pullback. Confirmed breakout. Pretty comfortable trade. Higher lows, 3 min chart helped keep perspective. Lot of people showing size when it was trying to break HOD. Shook me but stuck to plan. Risk was .31 reward .40. Only 2/1 r/r but B/Os haven't been a strong listed pattern. Watched chart and tape and tried to not be swayed by L2. wanted one more leg after .36 but big pullback and it just double topped at .36. ENTRY ENTRY ENTRY.
Entered on volume burst after it was holding 8. Big bottom wick tested me, but told myself to respect my plan. Risk 8, reward 10. 9 was a key level and had troubles at first. Once it broke i thought it would start to ramp. When it broke under put in sells, sold in 50 at a time. Again should've respected my plan or least see if a dip would form and reevaluate. Eventually did what I wanted it too. Bummer, but one step closer
Entered on the volume burst at noon. Late entry, so volatile. first crack at the R/S strat I guess. Still don't know the catalyst, maybe a late E/W. Cut half at 5.60 cause it slowed down quickly and moved risk for the rest a breakeven. Due to volatility I cut to prevent an actual loss and didn't want to get caught. Practice.
Entered after first hold of 1, starter. Didn't cut right away after it cracked one. but it wasn't chopping around 1 so I cut. DoD news seemed solid enough but I probably should've waited for more confirmation. A little bit of FOMO cause I didn't want to miss it. Lots to like about the trade.
Held for over an hour as it was holding VWAP and some volume was coming in. E/W possible gun, didn't really react to earnings on the first day. Good runner history, tight 10 cent risk 70 cent reward where gap fill failed. Played 50 and added 50. Double top at 7.95 and sell orders getting larger told me to get out. Possible gun chart/VWAP hold pattern too.
In on first dip after initial spike...waited for volume to come in...like DSS I think the trade itself went well...after seeing volume come in while it was holding P/M highs but couldn't move I got out...Picking the stocks to trade is still a work in progress...this one had too much supply and a lot of people showing size on L2 in the low 3s....