Received 4 Karmas
dougeaton
dougeaton May 14, 10:42 PM

Thank you. I’ll be trying this out. Another weapon for the arsenal. One observation, some of the mini reversals and fake outs on my way down did occur at other POC‘s . In hindsight, it’s easy to pick the bottom, but how do you know in real time that the fake out isn’t the bottom? Would you just be patient and wait to buy after the bounce starts?

Smoothy
Smoothy May 15, 11:34 PM

@dougeaton I would only enter a long position only if it bounces off a POC, sometimes it can look choppy on 1 minute chart, I would switch to 2 minute or 3 minute chart to get a better picture. The bounces are usually pretty gradual as it has to absorb selling volume for at least couple of minutes. I would use the lowest candle's bottom wick as risk, usually 5% even for a volatile stock like $NBY on it's supanova day. I've noticed that the price doesn't normally bounces right off the bat, it wou

Smoothy
Smoothy May 15, 11:35 PM

@dougeaton it would chop around the POC for about 3 to 5 % before deciding which way it will go next.

Smoothy
Smoothy May 15, 11:42 PM

@dougeaton also, if you look closer to my $TAIT sample, the price went straight through some POCs, slowed down at some POC levels, but when it bounce, it bounces right away or chop around for a bit, it's pretty clear

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