Goal: DipBuy. Lvl 2 showed super heavy wall of bids at $1.77, entered at $1.78. Retested $2. Risk $1.71. B/O $2.30. Surged to 2.58 and crashed immediatey to 2.30. I sold it within a second right before it halted at 2.30. Went on to enjoy my day. Looked back later at 3:30pm, down to lower $1 lvl.
Risk 1.52. Dipped to 1.50 at 11AM. I wasn't worried, because I saw the support level at 1.50s. First time learning to recalibrate risk after seeing support level. Now how do I set an Ultimate stop loss risk in case it fails support? Note: ABCD pattern. A. Uptrend, B. Downtrend, C. Consolidate, D. Uptrend
good entry, disciplined execution. I did get impatient and FOMO. Premarket dip shows 1.55 clearly as a risk level. My predetermined risk level was 1.58. I exited the stock with discipline. But had I realize the bigger picture studying the chart, I would have caught this parabolic to 2.40s or 3.40s. Strategy Tweak: Increase risk a bit to obtain higher reward for ticker that gap up 500% with huge trading volume. Lesson Learned: Trust the chart, See the big picture, Monitor the cumulative Volume