Today I wanted to try and dip buy a daily winner after the morning spike. Right at the open $Gale seemed to tick all the boxes and by 9.40am was already down from 2.20 to 2.10. I decided to buy but in the 1-2minutes that passed it was already up again hence I got executed at 2.1899 (first mistake). In 5-7 minutes it was flirting with 2.30 so I put my sell order at 2.33. Sadly enough it didn't break 2.30 and after trying a couple of times it went down quite sharply to below 2.10. I cut my little loss and learned another valuable lesson. You need to think quick and act even quicker. There were potentially 18cents on the table (12-15cents reasonably). I'm happy I spotted it and that I was potentially right but I really need to work on my execution skills and entry/exit point. Amen
It wasn't a strong support. However, It was very close to the opening level and comfortable enough for me to take some risks. My biggest mistakes I believe were poor execution on the right entry and random pick up of an exit level with no chart relevance.
I recommend tim G's dvd, it changed my whole concept of support and res levels
Thank you
pleasure bro
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