Fomer runner that likes to spike and the market is in penny mania + a great catalyst (partnership) + super low float.
Premarket chart:
- Came back to 20-EMA and did not dip below
- Remained in the 30% of the gap = great for momentum.
Daily chart:
- After breaking the previous daily resistance (on the recent spike), the stock had a big window with almost no resistance on the path, perfect for a run.
Before the crazy run, the stock was in consolidation, and at the breakout, it broke out of consolidation and squeezed to the upside with halts in between. Enter halts with small size while stock is moving up, NEVER down.
Squeeze entry:
- Good 1-min micro pullback that remained in the upper 50% of the previous candle with the narrow-range bar and pullback bars at approx. the same height = great. And above the whole dollar mark.
Last entry:
Don't take a trade after a red candle made a new low, especially after a big green candle, AND/OR when it closes in the lower 50% of the previous bar => sign of weakness and reversal. There must be at least 2-3 bars of pullback depending on how extended is the chart. Let it come to the MAs and set up a MA Pullback Setup
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-12-30 09:30:36 | IPDN | buy | $1.950 | long |
2020-12-30 09:30:56 | IPDN | sell | $2.100 | long |
2020-12-30 09:31:10 | IPDN | sell | $2.140 | long |
2020-12-30 09:34:19 | IPDN | sell | $2.060 | 0 |
2020-12-30 10:10:23 | IPDN | buy | $3.190 | long |
2020-12-30 10:16:52 | IPDN | sell | $4.860 | 0 |
2020-12-30 10:26:28 | IPDN | buy | $4.240 | long |
2020-12-30 10:27:05 | IPDN | sell | $3.900 | 0 |
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