Tim says you have to be a complete idiot not to get this after a few years so after 7 years of trying I must be that idiot. Been watching this pattern play out day after day. SFOR, OZSC, MMEX, WDLF, GTEH, ect. Breakout on the daily, runs up, gaps up next day. Bought the breakout on the daily as it was about to make new hod.
| Date | Price | |
|---|---|---|
| Entry | 2/11/2021 | 5.6933 |
| Exit | 2/11/2021 | 4.8801 |
When it broke support and vwap I added when it looked to made a higher low, knowing I shouldnt add to a loser. Didnt want to use my last day trade. Even when it failed to break above the vwap/prior support I thought "now would be a good time to short" and I still didnt get out. I didnt want to take a $300 loss.
It then broke both the previous lows and got out before I lost everything. I should of closed my laptop before getting in this trade as I was already annoyed and looking for a win as I accurately called the bottom on four panic dip buys and not a single order got executed even though my limit was plenty above the bounces. Frustrated.
Reviewing this trade after hours and I see it uptrending afterhours and it is now that I realize it is a Nasdaq and not an OTC. It's the OTCs that have been following big breakout on the daily that closes near its highs and gaps up the next day because it doesnt trade after hours. A lot of expensive lessons learned on this one
