FTFT Trade on Feb 12, 2021 10:07 from VadimT7: Tradervue User Stock Trades.

Daily on the way of breaking the consolidation flag => bullish indicator.
- 8.50 is the next major level to break to continue the daily breakout higher.

Entry:
- Entered at 61.8 Fib of the major trend including the day prior at a significant swing low => worked well in combination with the PM high support.
- ATR was at around 20 cents, so set the stop-loss to 20 cents and expect more fluctuation than from a lower-priced stock.
- When entered, the stock bounced at the premarket high that became support, thus set the SL a few cents below that level (the premarket high that became support) and let the stock do its thing.; and scale-out on the way up.

- Near the entry point at 61.8 Fib and PM high support, experienced shorts start to cover and buyers start to buy the dip which boosts the price higher.

Pay close attention to the high-volume candles on which the shorts got trapped and see the price above which they will most probably start to cover -> high-volume red candle high, swing high, consolidation high => Add after the price starts to show buying volume as the shorts are getting trapped and the price continues higher.