- Two recent strong rallies
- Bouncing here on the 50 dma and trend line backtest.
- Down to test 50ma and long-term downtrend line.
- This could continue correcting to the 200 dma.
Taking a starter position. Stop below 50 dma.
- Bouncing here on the 50 dma and trend line backtest.
- Down to test 50ma and long-term downtrend line.
- This could continue correcting to the 200 dma.
Taking a starter position. Stop below 50 dma.
Trade closed manually:
I actually stopped out for a tiny loss on a day when it looked like it was selling down below the 50.
Turns out, it reversed and it still looks good. What I learn from this is that:
- I should be more patient, have wider stops, and size my risk to accommodate.
- I should look for ideal setups where I catch the exact bounce off support. If I am "chasing", I should size down accordingly.
Frankly, trading is hard. It's easier to buy TQQQ and sit. I have started to do that (I like TQQQ, SOXL, EDC) but will still do my best to be patient and risk-aware.
Turns out, it reversed and it still looks good. What I learn from this is that:
- I should be more patient, have wider stops, and size my risk to accommodate.
- I should look for ideal setups where I catch the exact bounce off support. If I am "chasing", I should size down accordingly.
Frankly, trading is hard. It's easier to buy TQQQ and sit. I have started to do that (I like TQQQ, SOXL, EDC) but will still do my best to be patient and risk-aware.