SDG had been setting up an inside day candlestick this morning. SDG has been heating up since breaking it's downtrend, bottoming with a J.lo bottom, and gaining multiple accumulation days on the daily chart. I went long SDG to take advantage of the upside volatility due to the high short interest and the inside day candlestick.
Entry - 13.36
Stop loss - 12.55
Target 1 - 15.00
Target 2 - 16.00
Entry - 13.36
Stop loss - 12.55
Target 1 - 15.00
Target 2 - 16.00
Trade closed manually:
Near the close, SDC is not acting as expected. SDC is trading below yesterday's low, invalidating the inside day candlestick. Furthermore, the candlestick pattern looks like Tweezer tops (Bearish candlestick pattern). Although upside could be possible on SDC tomorrow, I'm cutting my loses early on this trade and moving on.