Very volatile stock, 4 M float on no news.
Bounced on 61.8 Fib.
First trade:
- No need to exit as the selling volume was decreasing, the price was at 61.8 Fib. Buyers entered the stock on the first break out of consolidation (before my entry) and the red volume was decreasing which indicates that buyers are still in the stock and expect further upside.
Next time, set the stop under the created support during the consolidation and adjust position size according to the risk per trade.
Second trade:
- Preferably buy closer to the 61.8 Fib and the whole-dollar value (10.00).
- IMPORTANT : The selling volume at the previous top of the wave was as high as the buying volume indicating that the stock might go lower than normal, such as dip under the 61.8 Fib, 50-EMA on the 3-min chart, and the low of the demand level instead of the high of the demand level.
- Don't exit completely if it hit the top as it can always break above, especially in the hot current market.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-05 11:08:10 | AAME | buy | $9.280 | long |
2021-02-05 11:10:06 | AAME | sell | $8.910 | 0 |
2021-02-05 11:45:29 | AAME | buy | $10.500 | long |
2021-02-05 11:53:39 | AAME | buy | $9.700 | long |
2021-02-05 11:56:40 | AAME | sell | $10.700 | long |
2021-02-05 11:59:32 | AAME | sell | $11.090 | long |
2021-02-05 12:16:22 | AAME | sell | $13.590 | long |
2021-02-05 12:17:16 | AAME | sell | $13.650 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!