DGLY Trade on Nov 2, 2020 15:09 from VadimT7: Tradervue User Stock Trades.

LOOK AT 1-hr/30-min CHART and Daily TO AVOID CHASING A STOCK -> It already made a strong rally (15%+).
On the daily chart, it's right at the gap. So before buying, make sure that the gap will act as new support on the 4-hr chart.

For entry: Enter on a pullback on the hourly chart if I want to swing it (e.g. for post-election). Through hindsight, I can see that it made a good pullback to 2.6. This should be a buy zone.

LOOK AT THE BIGGER PICTURE!

If I day trade, then don't hold overnight unless there is a big probability of it moving higher => In this case, given that it was at the top of a distribution area where the insiders are selling, don't hold overnight!

First entry was way too close to the resistance -> Solution: In my strategy, only buy pullbacks. For breakouts (e.g. DGLY went through the $3.00 mark but never rebounced on it, so it went lower) => buy after a green candle closed after a bounce on the new post-breakout support ** => **CONFIRMATION

Also, use the cyclic RSI or normal RSI to confirm that the zone is after a distribution or accumulation zone.