EYES Trade on Mar 5, 2021 10:16 from Jrow3: Tradervue User Stock Trades.

Trade Idea:
- Following a double bottom @$2.78 I wanted to take a small position to assess if there was supporting momo as the first 1min to make a new high formed. I missed the first candle to make a new high but the discretionary support behind this idea was not there and we did not see resolution.
Risk/Reward:
- Reward: $3.00 initial PT
- Risk: $2.87 SL (current candle's low)
Position Sizing:
- Took a position that allowed for $0.18/share because I understood this was a test of a trade, not a proven setup.
Trade Management:
- Entry was not ideal and it was in a range without key levels on the bid or ask so essentially it would either work or fail without the intra-range indications as to whether it would fail early.
After Trade Thoughts and What I Learned:
- This was overall a poor test because it had just rejected off the ascending resistance and was unlikely to find immediate support from buyers. I took this entry mostly because of the $2.78 double bottom just looking for some residual momentum to retest $3. I learned that patience is always a good guiding principle to act around.