GWPH Trade on Feb 3, 2021 09:32 from hermanho939: Tradervue User Stock Trades.

Gap up 50% to ATH on the daily. Long bias.

9:30 is a doji with long demand tail. 9:31 is demand tail (creating double bottom in lower time frames) and bullish engulfing candle, close on the highs. 90% of volume of 9:30 (anomaly, taking into account high volume of the first minute candle). Decision of entry after 9:31. Stop loss at daily low, 1%. Despite neutral outcome, the analysis is that this is a perfectly reasonable entry (in fact, it DID give a 1% bounce).

Non-threatening consolidations in 9:32 to 9:37. Correct decision not being impatient and exiting half.

Breakup candle 9:38, but, did not close above wick of 9:32. 9:39 and 9:40 were non-threatening candles. Decision to exit half after 9:41, long supply shoot, close back into structure, on volume. Despite with hindsight this is an accumulation structure, the decision is reasonable and correct. This is commendable risk management.

It is noteworthy that 9:44 is diminishing upwards result on similar volume, plus upper wick produced right under important price. It would be a proper place to exit half. However, I have already exited half then.

Exited second half during 9:56, went to toilet, set a stop loss just below breakup candle of 9:43. Correct to hold through the consolidation structure, despite it turned out to be a distribution. There are not really any threatening candles within the structure, and the overall trend is up. If monitor all along, might have exited after 9:55 (broke structure, but did not break the breakup candle low; but, it is only a 0.5% difference on half portion size.

I remind myself that despite exit strategy arguably cost me 1% today (if exit all after 9:44), it is with hindsight, and the strategy is still helpful to prevent huge losses, and capture the potential for huge gains. More likely than not, the first consolidation would be a distribution, and the second consolidation would be an accumulation.