Like Roland has said, let the chart play out for the first 10 minutes or so, in order for the chart to be able to tell you where to get in. In this case with $FORD, if I had been patient, and not bought in too quick, i would've seen the higher low, thus, the opportunity to enter in. I was in too soon and sold when it dropped below my 2.50 risk level. Now in one hand its good that i respected my risk, but in truth, it is wiser to allow the chart to prove itself and show you where to get in. Patience would've allowed this, but i have to take the small loss and learn. Be ready next time.
Posted Jan 19, 18 9:40 AMbySebastianjhugo
Tickers
FORD
Received 3 Karmas
Also, volume. Watch the volume.
It happens to the best of us.
DCIX looked similar to this the day it went supernova. it spiked at the open with huge volume then faded, then curled back to VWAP. I guess tons of people shorted the spike at the open then got squeezed out. imo it would of been a good buy when it broke hod then came down and tested it as support, or when it broke VWAP but it could of gotten stuffed
the way it squeezed through VWAP reminded me of DCIX so much. you could tell tons of shorts were in this one. this doesn't happen all the time so id be careful looking for this setup on a daily basis (directed towards newer traders reading this)
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