IHT had strong premarket but tanked at the open. Looking to buy in at 7 for support. Failed and dipped. Bailed out. Bought back in 10 cents lower. Had conviction of the buy with a green candle but was wary of another dip. Got out at breakeven. Below VWAP and losing momentum I just let the shorts take it and went to another ticker.
MOSY up in a parabolic move, straight up. I caught it as it was reaching the top. Didn't see news on it, didn't care. Saw the float was low and checked the day high. Trying for the price action. Dipped and I waited for another pattern, the VWAP dip and bounce.
Bought in at 4.15, tried to rise above that price but kept going back to my buy in. Fearing that it would dip below my buy (and breakdown below VWAP) I got out at breakeven. This is where one has to have a stop loss and it can't be breakeven sometimes. After I got out the VWAP pattern worked and it started moving up. Tapped the 4.90 range as I am writing this before pulling back.
No guts, no glory I guess.
I had an itchy trigger finger from trying not to lose on IHT and it transferred over to MOSY. Two totally different setups but it was hard to make the transition so bailing out fast on MOSY cost me (at least this time).
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