LXRX Trade on Dec 8, 2020 10:46 from VadimT7: Tradervue User Stock Trades.

On the daily chart, broke the most recent resistance level but there are still a few significant ones to break so get in and out quickly. Also, went past all of the EMAs on the gap-up meaning that there is lots of strength and momentum on the day. Take advantage of that => setups have a bigger chance of working out.

Improve:

1) Don't enter on extended charts. 1-min and 5-min charts are very extended on the first entry. The second entry was late on the bull flag => Don't enter BUT wait for a retest (pullback to the half-dollar new support after breaking it) and play the three-bar play or the bull flag pattern on the 5-min chart or the 1-min if it continues the move up. Always see if the volume is in sufficient quantity for making patterns work. Otherwise, the pattern has lower chances of working than if there was high buying volume present or starting to appear.

2) If the stock doesn't make the move immediately, get out of the trade and wait for it to resolve which will validate or invalidate the move. This will save lots and lots of money. 1-min chart clearly shows a double-top with low buying volume after a 5-min breakout**which indicates a bull trap**. => Signal to exit the trade.

The 87% rule: The same trade will work correctly 87% of the time if it comes back to the previous apex point which we bought the stock at previously.