NIO Trade on Oct 15, 2020 10:34 from lukenew2: Tradervue User Stock Trades.

I missed the breakout into the new high resulting in me to wait for a pullback to buy in. The previous day I noticed 2 consolidation periods after breaking into new highs and hypothesized one for today.

My first purchase was too early. I thought the support was going to hold and didn't want for the price to consolidate and hold a support. I ended up still being profitable because I banked on the wedge pattern resulting in a lower high. I exited at a big move upwards in price resulting in a good exit.

My second purchase I waited for the price to consolidate at a support level below my wedge pattern. I noticed this pattern that the price would leak through the bottom of the wedge right before a breakout. I believe this is a good spot to purchase during these plays. I sold right before the stock tried to breakout.

The failed breakout is my sign that we are not going to reach new highs and I should not have made the third purchase. I bought in hopes of a breakout and Fomo. This was my mistake.