CLOV Trade on Jul 29, 2021 09:49 from tjmiller2001: Tradervue User Stock Trades.

CLOV had 15m demand at 8.22 so I was watching that zone. It held as support during the first 4 minutes, I was hoping to see it return to that level and double bottom there.

A steep down move from 9:43-9:47 was followed by a 1m doji candle right at demand. I scaled in when the 9:49 candle looked like buyers were showing strength. I got filled a little under 8.25 with a SL at 8.15 and a TP level at 8.55. My stop would indicate that the double bottom did not form. My TP level was near resistance from a few days ago.

I scaled in well with a 3:1 RR. Price consolidated near that level for about 10 minutes before breaking down and triggering my stop at 10:02. I wrote that I didn't plan to reenter because "it's been making lower lows and lower highs today." A valid reentry thesis would be, "If CLOV makes a higher high on the 1m chart then pulls back and holds demand, I will get long with a stop at a new LOD."

Lesson Learned: Spend more time thinking about what would signal a good reentry. Don't dismiss tickers just because they are weak so far and you've already lost on them that day.