Here's my lesson on BASI, why its important to look closely, have patients, and not suffer from FOMO.

My two entries and exits where at 2.14 - 2.01 and the second 2.10 - 2.09

Buying at 2.14 was a bit of a gamble. It had just had a big move after it's third pullback. Going from 1.80 to nearly 2.30 in just 6 minutes. After a run like this it's best to wait patiently for some consolidation before buying into. 

I should have sold sooner, like once it broke the trend line it formed starting back at 1.55 but didn't. Instead I sold the only time it broke 2.00 and got out at 2.01. Was hoping it would bounce off the trend lines and EMAs at 10Am.

I could have had a bit more patients to sell, knowing that 2.00 is major support/resistance area and sold it into any strength. Like over 2.20 before it toped out at 2.24 for a small win but most important a percentage win. 

 

My second entry was just plain dumb. Buying when there's no strength, no trend, no real area of support. Then selling just 4 minutes before it breaks and makes a NOD at 2.42.

Long term chart does show it making new 1 Year highs. So my plan was never be in for more than .10 - .20 return. Because you have no idea when it can all come back down.

Thats why following trend lines are so import on this type of set up.

Please leave your comments. Constructive criticism is appreciated.

GIVE KARMA ❤️