CGC Trade on Nov 6, 2020 09:39 from denlitvinn: Tradervue User Stock Trades.

Big picture:

Weed in general was oversold on weekly chart and was in a pivotal moment signaling reversal pattern. CGC last month was very strong breaking through the resistance levels amid potential support from Biden if he gets ellected.

Intraday fundamentals:

CGC is strong on daily as it broke through the 22.00 level. That was a stock to TRADE2HOLD.

Execution:

The first entry was a momentum play. Near S level at 22.00 there was a clear change on the tape as buyers started stepping in after a false breakout of 22.25, I got in a bit too high. I was able to capture the whole move with half the size, looking at adding more closer to support at 22.50, mistake - din't cover at breakout of 22.50, another mistake - exited at 22.25 for no reason, it was too close to potential support and too far from breakout of prev support at 22.50. Ended up reentering after it flushed to 22.08 and quickly bid up to 25 again, which was a good sign of strength. Captured pretty good move but on very small size.

What could have done better:

The fact that I reentered at 24.25 is definitely an improvement, I correctly identified the inflection point on the tape and pulled the trigger within a short entry window. I cancelled my second order because I was feeling unsure, and this is something I need to work on, getting more confident in trades that work and getting big.
Later stock was giving more potential entry points on retest of support at 23.00, I wasn't watching the stock closely as I was not thinking that it has much more potential even though daily doesn't signal any resistance levels. Something I need to work on is to stay open on adding more size.