6:30am - $SUNW - Red to green move. THis was a runner yesterday and closed at $9. It is currently under that price, so I am hoping people short and then at the open it is able to reclaim R/G and have another run. THere is lower resistance at $8.50 and then again at $8. If this dips those are key level to watch and buy the bounce from. Use the 5 min candle theory. If it stay around the HOD then breakout above $9.15
This gapped down quite a bit in the morning and dipped all the way to $7.6. At this point a R/G move was not really smart because it shows there was a lot of weakness.
I remember that I was wathcing a lot of charts, and as soon as it passed R/G I bought it - what I really should have done is analysed and seen that it was weak and buying it was no good.
My executions were pretty bad. I bought at the top and then sold into the dip, and then bought at the top again. A R/G after the first breakout might actually test the R/G to confirm. Entry at this point is probably better.
I also didn't have a plan for this. I just bought 100 shares.
Another mistake I made was to try play the R/G. I should focus on one pattern and that is the dip and rip/ open reclaim.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-08 09:49:00 | SUNW | buy | $8.470 | long |
2021-01-08 09:59:37 | SUNW | sell | $8.190 | 0 |
2021-01-08 10:11:11 | SUNW | buy | $8.680 | long |
2021-01-08 10:14:00 | SUNW | sell | $8.680 | 0 |
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