Conclusion G&G-ORB Candidates must exhibit Clear Consolidation, or Strength just before the Open (No Weakness Pre-Opening)
Conclusion Stick to your Trading Rules, Define Max Loss and Set your Stop Before Entering a Trade
Bought break of opening 1 min candle
stopped out at low of opening candle
MAX LOSS/TRADE EXCEEDED
Weak Price Action premarket, just before the open.
Price steadily rose in the PM until about 5:05, then it pulled back just before the open, with chop.
PM (premarket) PRICE ACTION:
Close yesterday: $1.87
Sudden Up-move at 5:30am to $3
Consecutive Green 5 min Candles until 6:05 to $4.45
Down-move w/ High Volume Red Candles + Chop until Open to $3.7
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-10-19 09:31:42 | BIMI | buy | $3.860 | long |
2020-10-19 09:31:42 | BIMI | buy | $3.850 | long |
2020-10-19 09:31:42 | BIMI | buy | $3.830 | long |
2020-10-19 09:31:43 | BIMI | buy | $3.840 | long |
2020-10-19 09:32:02 | BIMI | sell | $3.460 | 0 |
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