BLRX Trade on Oct 30, 2020 09:50 from VadimT7: Tradervue User Stock Trades.

Before exiting, look at the 5-min and 10-min chart to see where the stock is at: extended or not, S/R levels near? At the EMAs/VWAP? 5-min EMAs and VWAP (same on every time frame) are super strong. These charts also allow to set an appropriate stop-loss before entering the trade.

Stock with super-high volume on that day indicating an increasing strength of the catalyst and the presence of momentum = great for trading.

First entry didn't respect the strategy of the higher low; the first exit was bad. Set a stop-loss under the last swing low, because that's where the people have a psychological stop. The stock will rebounce, stay confident in that! If it doesn't bounce on this level, then exit the position and learn from this trade.

Second entry was good as well: stock not too extended, higher highs and lows, tests the new support level while having really high volume which indicates big chances of continuing going upwards and bouncing from this support level. Good pullback to enter => verify the validness of the pullback by looking at the RSI or cyclic RSI + near EMAs or VWAP and also wait for a higher 5-min low

Watch for stock to approach resistance located on the longer timeframes (e.g. daily had a strong resistance through which the stock broke out). Compare both volumes (at the previous resistance level and now) to see whether this time around (today), the volume is big enough to break this resistance.

10-min chart is really good to indicate the continuity or not of the move.