A stock that showed up on Friday's WL has popped up again on tonight's list. $MDCL had a breakout pattern developing on Friday. I laid out my fib levels on Friday and they are still on the chart. My entry would have been at 2.6811 the 0.236 fib level.
Price rose up through my level but never made a strong enough bounce to trigger a trade, I only enter a trade after a bounce has occurred because I have been fooled in the past and jumped on the tail of a rally only to be tossed off shortly afterwards.
Price made a rally on Friday and it continued on to today with the HOD reaching 3.74. My analysis was correct I just didn't have the confidence or patience to commit myself.
I have yet to develop the confidence in trusting my trading fully and I am sure it will still take time.
I've been watching MDCL as well. I had the same inkling. My thinking is that it will go to the end of the conference. It doesn't have strong news or volume, though. It looks like a pump and I think that it will fall off at any moment. So, I'm staying out.
Learned from watching OOIL
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