It could’ve been a great trade. Am I familiar with the pattern? Yes. Is it my most profitable pattern to trade, NO!

Plan was simple, let it cool off premarket into early market open. Buy into the dip. Support at $4.50 held pretty well. Got in at $4.88 playing off the support as exit, looking to exit into the INTRADAY high ($5.63). Surprisingly there is A LOT of resistance around the mid $5s.. if I had to say, I’d attribute it to those holding from Tuesday who bought at that price point looking to either break even or cauterise their loss… Not get the exact top, but exit into the low to mid $5.50s.

Didn’t have the patience to stick to my plan, dipped after I bought. Exited at $4.64, that’s a -4.88% Loss..

There might be some play still left in it if there’s a breakout at $5.50. Majority of sellers should’ve been exhausted by then, giving it more promise to maybe, just maybe retest the highs from a couple days ago..

#daytrade

#stockmarket

#traderecap

#LLL