I saw AWX up on earnings in A/M so i put it on my watchlist for the morning. It gapped up in the morning and i wanted to jump in on the morning spike but i dont want to get into that habit because its a good way to get burned. I ended up waiting almost 30 minutes for my pattern to form but when it did i played immediately. I figured the chart was close to the top so i took what it gave me. It definitely was the riskiest trade ive made since i played MTUU.
ENDP spiked in the morning on good earnings as it pullbacked to VWAP (which became my risk) it made a rising three three i got in about 4 cents off VWAP but the very next candle it dipped 10cents under VWAP and i exited the trade with a small loss. Patterns arent 100% so im not discouraged.
VCEL spiked on good earnings and it made what i thought to be an ABCD pattern. Even though this isnt a pattern im really good at i thought id give it a try with a smaller position. I shouldve listened to my gut because it didnt pan out. Im for sure only playing my three patterns because apparently i dont have the mental capacity to focus on anything more than that.
NPTN made a Rising Three after morning spike on good earnings and i got a good entry at the bottom of the pattern but it just took too long for it to breakout so i sold and exited with a pathetic gain. I guess in hindsight i couldve waited 30 mins for it to breakout but thats not how this pattern works its a quick result pattern, so like Sykes says " If the stock isnt doing what you want it to do, GET OUT!".
GPRO was up on positive earnings and formed a rising three after morning spike i caught it late at 6.74 and was risking 10cents off 6.65 support but i thought "hey its GoPro and it has good earnings".. it broke and made a NHOD but it only broke out 10 cents and then started to top. This past month has been tough to find my patterns and when i do i get weak breakouts but i know if i chase/force trades i would be in a heap of shit so i have to maintain discipline
NAKD formed the rising three pattern after morning spike i bought thinking that with the catalyst that they were in 4000 CVS stores it would respike but it didnt so i got out with a pretty pathetic gain and later that day it did make a NHOD but i have zero patience to wait that long
Formed what looked like a Rising Three which is one of my three favorite long set ups but I got a shitty entry on this trade i wanted to get in at 3.35 and ended up getting in at 3.43. I held for a few minutes of consolidation and sold into first big green candle. July has slowed down and stocks dont spike as far as they did before so im locking in profits quicker.
CPAH dropped mid day thinking it might fall more so i thought ill size into a short bounce at 4.24 but I got nervous shorting low float stocks so i covered quickly before it topped and eventually fell a little bit. Not comfortable shorting yet so ill have to keep paper trading short set ups