First entry:
-Don't take the trade as it's already at the previous resistance.
- Price failed to break the 3.2 resistance + with a gravestone Doji on very high volume => No trade criteria.
Second entry:
- Dangerous entry after the double top, bounced on the 50 Fib of the most major trend of the day = very strong support level. A bounce on that major-trend Fib level is always significant. Don't take the trade as the outlook is bearish after failing to break the previous high.
Trade Criteria: No Consecutive or Evident Volume Anomalies
Better opportunity:
- Buy on the trendline at the bottom (especially if it's aligned with VWAP or one of the Fibs or other confluence areas) for a low-risk trade with the stop-loss a few cents below the trendline.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-22 13:57:14 | CLSN | buy | $3.150 | long |
2021-02-22 14:00:00 | CLSN | sell | $3.080 | 0 |
2021-02-22 14:09:25 | CLSN | buy | $3.005 | long |
2021-02-22 14:09:46 | CLSN | sell | $2.970 | 0 |
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