There was no big increase in buying volume that could've indicated a possible reversal.
Better execution:
Indications of weakness:
The move back up after the knife was on low buying volume and price action was very narrow - low buying and there is still selling pressure judging by the knives;
And there was a shooting star at the top on the highest volume.
And the price was not ready to move up as the volume on the most recent big rally starting from the 5.50s was on decreasing buying volume - no interest from buyers.
If it breaks out on increasing buying volume, just exit and no worries.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-26 13:38:18 | RAIL | sell | $5.790 | short |
2021-03-26 13:44:48 | RAIL | buy | $5.780 | 0 |
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