after covering the short, the only play is to take it long and play the bounce
GMCR long entry
bounce turned into a mini trend change, giving pesky short sellers pain for not taking profits when the candles said to.
I'm selling here into the surge of buyers and taking it short again as the markets are pointing down.
2 comments:
Going to have to ask a question on this one as well.
GMCR looks strong on your exit. It turns around right after you sell for something like a $0.50 drop. Heh.
Looking at the Q's they are showing a fairly big red candle. I can see that.
How did you do later this afternoon with all the squirrely action on the Q's: flashing thru S/R only to come right back. It is hard for me not to see the flash, bail on my position (maybe even reverse), which turns out to be exactly what not to do. Did you get caught up on the flashes? If you didn't, how do you avoid it?
Thanks!
dtf- Right after this the last GMCR trade I went for a hard mountain bike ride and burned about 1000 calories so I don't know what happened later. I've been taking most afternoons off lately.
You have to learn to recognize when the markets are in play and step back if they aren't. When I've been stopped out several times in a row I usually pause and regroup because I am obviously reading it wrong. When you get stopped out or whipsawed about, stop trading and step away for 15 minutes. A fresh set of eyes can see things a befuddled brain cannot.
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