Yet another day without a trade for me. I’m really just trying to work on identifying possible moves from my watchlist, switching to the chart, and mentally deciphering what might be a good entry right now. I’m a work in progress. I’ve noticed that these tickers I am watching for panics aren’t actually panicking like I’m use to. After I made my 3/23 watchlist yesterday I watched Sykes’s video lesson and he said panics aren’t really working right now. He reiterated that again on today’s video lesson so I don’t think now is the time to try to work on this pattern. I am going to adapt and try to play breakouts again as that seems to be what is working right now. I just need to continue to adapt for now, watching and waiting for these plays to do something that isn’t working right now is like beating my head against the wall.
I was watching AZFL late day as it was consolidating near its high and seemed to be forming a wedge. I drew the wedge on the chart and watched price action/level 2 closely. There were huge sellers at .0056, like 12 million+ shares if I remember correctly and that was the top of the consolidation zone it had been in since right before 2pm. I was going to take a position but decided that I was just going to watch the price action on this one and try to learn from it. When it chewed through those sellers at .0056 it broke out of the wedge and closed really nicely. Sykes also bought this one late day around .0062 I believe, so I’m really encouraged that I found this one on my own and was on the right track. Next time I see this setup I’m going to take a position on it though and risk off the bottom of the consolidation zone.
ICBU had some dips but only roughly 10% bounces. I’m moving on from this one for now.
AABB had a 20% morning panic with a 24% bounce. I actually saw this one, but didn’t feel like the panic was big enough. I’m taking this off watch for now.
DSCR actually had a nice 35% panic with a 34% bounce, but I didn’t get to that chart until the bounce was already happening so I missed it. Since I am switching my focus away from panics I will take this one off watch for now.
USEI had a 32% panic with a 30% bounce, but I missed this one because I was focused on AABB. I’m going to move on from this one.
DFIFF just faded all day. I’m done with this one.
AZFL I talked about earlier. I’m going to keep this on watch for a breakout of the 52 week high of .0069. This is my top watch for tomorrow.
NRPI didn’t do much in the morning but had a spike/multi-day breakout midday. It didn’t hold above that b/o level but did close at around 50% of the level of the spike. I still feel like this daily chart looks over-extended up from the .02 area, but there is still a possibility it could present another multiday breakout play if it breaks the .58 level. I’m actually going to leave this one on watch for a possible breakout of that level.
UAMM didn’t do much all day but is still consolidating near the highs on the daily chart. I’m going to keep this one on watch for now because if it keeps consolidating around the current level and perks up there is a possibility it could make a run and test the 52 week high of .16 and might be a breakout play.
IMTL didn’t do much today either, but it too is still near the 52 week high and might be consolidating before another possible leg up. I’m going to keep this one on watch for a possible breakout of the .019 area.
EEENF is roughly 20% off its 52 week high. There are 2 bad ticks on the chart from back on 3/3 that make it look like .20 is the 52 week high, but it’s actually .03. I am going to watch this one for a possible breakout of that .03 level.
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