Really annoying trade. The stock cracked hard and then grinded all the way up past the resistance level with an ABCD pattern and broke out. I should of got out when I saw the ABCD pattern forming.
Multiple Timeframe TTM Squeeze (Swing Trade). Weekly major supply and demand. Daily DPO signal. DPO buy/sell signal. A/C wave signals in the same direction. 30 day options expiration.
Entry comments: What trigger me to enter this trade was the slight break over $164. It has double bottomed at $150 and broke that down trend line at that Wednesday 10th candle. Since then, it has been consolidating in the $155 to $164 range. Risking $156.30 / look to get a piece off around $170 and watch it from there.
Exit comments: Stopped me out. Turns out it was not a significant breakout. More patience was needed on this trade. The candle on the 24th if it was a true breakout needed to have more volume and larger candle body to show its strength. This did not and I rush in. Always have a stop loss and I cut my loss quickly.
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