I scanned for just over 1 hour in the open and nothin I liked was really common up in the scans.
It was a big red negative day for the spy so market was in a bit of a down trend, hence why there were not many b/o.
It didn't meet all of my 2Lynch criteria. It met 3 out of the 5 conditions so I would class this is a C trade.
What I did like about it was that it had good linearity and good quality consolidation. Looking back now it is a young stock that IPOed 5 weeks ago that may also nee adding to the explosive gains we are seeing.
This has been my best trade yet of my new start, as you can see a total of 169$ profit. I entered it a few hours after the open and it moved quickly the next day it was gapping up on the pre market. My exit was excellent I was watching the stock and it was just rallying up so fast.
It was up 35% in 24 hours so I sold into strength.
I got 19% of the move it wicked up and I sold and to my surprise it has not even registered a candle wick of where I sold.
My main take away from this trade is to sell into strength. the stock got extended very quickly and after I sold it by the end of the trading day had given back all the gains and more.
It's hard to say as this has been my best trade so far, but I guess I could of entered sooner. If I practice my hot key excitation skill I could be a few seconds quicker and on stocks like that could mean at least a few % more gains.
Going into the trade I felt like it had a lower probity of working due to the market and it being a C grade so I was having cautious thoughts. During the trade was great because it was working and it worked fast and quick. A little too quick so I did move my stop up to protect somer of the gains, that was the right move.
Best trade so far so I am real happy.
one good trade, one good trade, one good trade
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-08-19 00:18:05 | GRVI | buy | $6.000 | long |
2021-08-19 00:20:38 | GRVI | buy | $6.000 | long |
2021-08-19 22:51:05 | GRVI | sell | $7.130 | 0 |
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