ADMP Trade on Jan 20, 2021 09:59 from VadimT7: Tradervue User Stock Trades.

COVID-19 IND drug submission to the FDA.

• 3-min and 5-min charts proved to be very efficient, always keep an eye on them.

• Let 25% of the position run higher unless it gets to my breakeven SL where I would sell it. This doesn't bottleneck the gains and improves the total results in terms of revenue per trade.

• First entry was obviously too extended, the stock will go lower after such a big candle on the 5-min charts, as well as 9 consecutive green candles on the 3-min chart (7 is already over the top), thus retain myself from entering it on FOMO (as I did today on 21st of January = kept myself out of a trade and this proved to be the right decision given that it fell after being too extended).

• Second entry, perfect bull flag after making a higher low. Reversal was confirmed with a hammer and the fact that selling volume decreased even though the stock was about to make a lower low => shorts were hesitant and expected it to continue higher. Buying volume started to increase and on the pullback, selling volume was decreasing = clear indication of a trend change to the upside.

Use Fibonacci retracements and combine them with other indications such as trendlines, resistance/support levels, or indicators (RSI) to find places where the stock is potent to rebound for a good dip buy.

Never think that a stock can't go higher if it's already up by a lot.

Buy near the trendline as a reliable dip level along w/ the 50, 61.8 Fibs (or even 38.2 if in momentum and makes a pullback on low selling volume) like a professional trader and manage the risk tightly on the dip (below S/R levels).