I got stopped out below horizontal s/r level today. Looking for my lesson now.
I typically do not re-enter trades on the same symbol after taking a loss, as the stop tells us when we are wrong.
However, I think I could just as easily flip my bias now and get short when it pokes above the s/r value as it inevitably will. How far the poke will go is the question...
No earnings for another month... so I don't see why the trend would abruptly change. In fact, if I were a patient bull watching this stock I would be very happy to let it drop and drop until earnings comes out, then buy if it's favorable. I'll check back in on this at weekend to see if s/r gets tested again.
I typically do not re-enter trades on the same symbol after taking a loss, as the stop tells us when we are wrong.
However, I think I could just as easily flip my bias now and get short when it pokes above the s/r value as it inevitably will. How far the poke will go is the question...
No earnings for another month... so I don't see why the trend would abruptly change. In fact, if I were a patient bull watching this stock I would be very happy to let it drop and drop until earnings comes out, then buy if it's favorable. I'll check back in on this at weekend to see if s/r gets tested again.
Comment:
Lot of market indecision, this stock has made me tons of money, so of course I'm grateful. But, lately, it's not been so hot. Time to cut ties. Nice doin business.