The base of candle you have marked to sell at, is where the safe entry might be considered, but at that time, you're looking at a short move if you sell around the close of the candle. Being patient and buying the dip when it touched the new support that was old p/m res, then selling into the beast mode marker is more the play I think.
My point to you is, I think you're coming up with plays based on what happened, but there's very little justification for taking those plays at real time if you were watching it develop. Imagine the bars from your intial buy went the opposite way, and consider how the chart would look, would you still say it's the "safe" entry? No, because the stock would have gone down from there.
Then, when then explaining why you took the trade before it fell apart, what's your explanation? You'd have maybe one rough small pattern developing, but that's it. Compare that to buying some time above when it's holding at p/m res, trending up, and volume is still comparable to the open (as it was dipping on the low vol areas). Just IMO, but somethign to think about, thanks for sharing!
the previous (2) candles formed a support level that I would use as risk - 2-minute setups mind you - .02c risk
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What market data do you subscribe to on IB for your level II/
I use the NASDAQ TotalView-OpenView for $15 and OTC Markets for $16 on Level II.
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