Reversal trade off market structure
- Sold all on the double because this equity has a history of large retraces after pumps - sell the news event - overwhelming selling started coming in during the later part of the afternoon.
- Fundamentals came out today that they are are to be a SEC reporting company. This was probably know weeks again, as the bottom came in. Sold the news event thinking the last hour would be marked with overwhelming selling pressure.
- The adherence to fibs and GANN's 50% level is to be noted for future levels and movements.
- Weekly S/R levels drawn in purple and daily in green
- Re-enter trades are yet to be filled
- Down in extended hours 4.67% - stopped at BRN (Big Round Number) .10 as this is a tough mental support or resistance level
- If first stop .382 fib, of the whole movement acts as support and volume comes in I'm prepared to scale in off the 50% GANN level from the higher level smaller range
- Neutral leaning bearish right now - short term bearish if at all.
- Outstanding shares concerns me, thinking we could see a reverse spit - this would help with the 'minimum price per share' needed to continue listing on the NSDQ