I bought this when it made a second run then dipped. I bought when the channel broke above 4.60 resistance hoping for a retest of 4.98/5. What I normally do is wait for a longer consolidation like about 40 mins to an hour but because this spiked later in the day and the first consolidation after the initial spike was only 30 mins I got in after only 20 mins consolidation after it made that high to 4.98. The better buy was at 2:11PM which was a 40 min consolidation when it broke resistance above the 4.60s then came back down and started making higher lows. So I was on the right track but again got in too early. Next time with any spike even if it's in the middle of the day, when you miss the first dip wait for at least a 40 min consolidation and when the stock starts making higher lows and forms an ascending triangle that's the best time to buy.
And...do NOT hope. Scalp the profit.
You can re-enter anytime if you scalped a profit.
@Settler I didn't hold and hope :) It did exactly what I thought, got to the 4.90s, never hit my stop of 4.49 but I didn't have the patience to hold and I traded too much today.
@Settler When I said hope for a retest to the 4.90s I mean that was my goal/target price :)
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