happy04t
Long

HMNY mets my best setup.

NASDAQ:HMNY   HELIOS AND MATHESON ANALYTICS INC
1) Structure- Price at SPP             .
2) Trend- TTF             downtrend, LTF downtrend.
3) Strength & Weakness- TTF             weak selling, LTF strong buying & weak selling.
4) Future Trend Setup- Bullish up to 9.64 RSS.
5) Indicators- TTF: i) RSI- 40 Converge sideway.
ii) KC- Lower Channel down.
iii             ) 20EMA- Down, Price lower.
iv) MACD Lines- Parallel down, above 0.
v) Histogram- Converge up, below 0.
6) VSA- Volume ) More volu interest on upside than down.
Spread) Wide spread on up bar, narrow on down bar.
Price) Closed high on up bar, low on down bar.
News) 1 million Moviepass subscribers.

Condition:
1. If price gaps up high at pre-market or market open, I will cancel the orders and wait for a gap up pullback on 1min/5min timeframe with good R:R ratio to get in again.
2. If my entry is triggered with weakness or potential trapped, I will watch the move for the next 30min and get out of the trade if strong selling occurs. Hold the S1 position if weak selling follows through.
3. If no sign of strength and weakness on both sides, my order will remain.
4. If further weak selling is coming, I will find a better LWP for entry.
5. If strong selling follows, orders will be cancelled and reassessment is needed.


Trade active: Based on condition 2, I adjusted stop loss to 6.63. Expecting price to rally after breakout 7.00 but it didn't. Price shows weakness on buying.
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