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I saw this stock aproaching the multi timeframe breakout level into Thursday's close and was my main watch for Friday. The stock gapped up over the level so I got in risking g/r. I was patient and it paid off. The stock began running and I took the main piece of the move. Very happy I improved from my last few trades by not getting greedy.
Bought this stock as it was having a multi timeframe breakout. This stock is a slow mover but I thought I'd still give it a chance given the pattern has been working in this market. I risked on the breakout level but the next morning it didn’t show the strength I wanted and was barley holding the breakout level so I played it safe on this one. This was the right pattern, just not for the right stock.
Bought this stock again as it was breaking out and got a great entry. I also added to my position to get a little more aggressive. I had my great entry but poor exit which left this trade dissapointing. I broke the same rule as my last trade and didn’t exit into a spike or panic. I didnt take profits when I should have and ended up selling on weakness which reflects the P&L. Great lesson again to not hold as long and take profits sooner.
This had a nice daily breakout chart on Monday so I held overnight. The stock was gapping up nicely and I wanted to be patient and give it some time. There ended up being big selling pressure at the open and when it broke key support of .20 cents I got out for a scratch play. I don't regret this trade at all, I would take it over and over again.
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