Conclusions:
- Mind the Opening Price Action, it can have an effect all day
- Weakness in the Buildup Indicates Consolidation in the Rebound
Action:
Bought 5 min Bull Flag HoH $3.96, Stop to Low of Pullback $3.71, FPT $4.20
Stopped Out
Analysis:
Weak Buildup, Topping Tail at the End of the Buildup, Also, Indecisive Red Candle on Decent Volume in the Buildup
Price had the opening Positive Move Completely Negated by a Negative Move on Lower Volume, even though this had low volume, this was a sign of weakness
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-10-26 10:49:00 | MRIN | buy | $3.970 | long |
2020-10-26 10:49:00 | MRIN | buy | $3.970 | long |
2020-10-26 10:49:00 | MRIN | buy | $3.970 | long |
2020-10-26 10:49:01 | MRIN | buy | $3.970 | long |
2020-10-26 10:59:51 | MRIN | sell | $3.700 | 0 |
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