CEI Trade on Jan 15, 2021 10:12 from VadimT7: Tradervue User Stock Trades.

Daily chart:
- Broke above all recent resistance levels => bullish

Entry:
- Before entry, a very sharp sell-off + red candle on high volume might indicate end of the move so keep the SL very tight if going for a bull flag as in this case
- Risky with not enough reward. If the stock sells-off this quickly, its chances of coming back up become very small, unless volume comes in.
- Before entering the stock bounced on the 61.8 Fib and it could've broken below but strong buying volume at 10:15 came back and prevented a move lower.
- Break of the half-dollar value on a bull flag

• The price made a new low before the entry (many sellers getting in), but after the entry made a higher low which signaled a possible short squeeze.

Remarks:
3-min Bull Flag Setup with Fibs on this trade worked much better than the 5-min. The 3-min showed a better picture of what's happening a closer distance. However, multiple timeframe confirmation is crucial to success.

After a sharp sell-off, enter only after the second bounce on the level or even preferably a higher low! Don't enter on a lower low (otherwise, it's just a downtrend pullback trade in this case with low reward and high risk). The best reward is always on the move higher in an uptrend + short squeeze.

Better strategy:
- Buy the dip after the first sell-off, at a significant support level (PM consolidation level + previous day's resistance that tested 2 times + 61.8 Fib level)