Shared by
VadimT7
Price rejected VWAP and the downtrend line from PM and is thus bearish, it must get above VWAP before I trade it again to prove its strength.
It then formed a double bottom and broke above but still didn't break VWAP -> still NO TRADE, still Bearish!
It only bounced on the 78.6 and went right through the 61.8 Fib which demonstrated lack of buying interest (weakness).
Bears shorted the stock at the top after it has been rejected both by the downtrend line and VWAP as can be seen with the high-volume red candle (the volume was almost as big as the opening candle = strong bearishness).
It failed to get above the open price resistance.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-02-10 09:46:05 | UAMY | buy | $1.505 | long |
| 2021-02-10 09:54:57 | UAMY | buy | $1.420 | long |
| 2021-02-10 10:13:28 | UAMY | sell | $1.320 | 0 |
Leave a comment about this trade!
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!