Bearish indications:
- Definitely bearish with strong counterattack candle on 1-min chart and selling volume dominating the buying volume after this candle => perfect for adds on pullbacks below VWAP.
Late entry. Improve execution:
Wait for the stock to rebound and add on the bear flag at the supply zone or after hitting the resistance (enter on the candle that makes a lower low), and on the way back below the significant half-dollar value for an additional fakeout breakdown.
Don't enter above VWAP unless it's extended far away from it.
Add opportunity:
- While in the downtrend, on the way down after the fake breakout of the 50 EMA on the 5-min chart.
Don't Exit On The Breakdown. It broke down below the 200 EMA on the 5-min on high volume. Wait for bullish price action and volume confirmation and some consolidation breakout to the upside before completely exiting the trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-25 09:45:14 | EBON | sell | $8.460 | short |
2021-02-25 09:50:05 | EBON | buy | $8.320 | short |
2021-02-25 10:06:00 | EBON | sell | $8.330 | short |
2021-02-25 10:27:25 | EBON | buy | $8.210 | short |
2021-02-25 10:34:24 | EBON | buy | $8.060 | 0 |
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