I have a long position on WISH as an open market volume scalp.
The following reasons are why I am long:
High probability of retesting new high at 15
MACD (4hr tf) building up buying pressure gradually rather than abruptly (not forming triangle)
MACD (1hr tf) potential cross over upcoming in case seller volume continues to decrease
RSI remains in a buyers area
Price holding above support at 50 and 20 MA, perhaps to retest VWAP (4hr TF)
VWAP acting as support (1hr TF)
~2%+ pre-market
I have my initial target at 15, but if we push past VWAP and all indicators continue to point bullish I would aim for VWAP at 16.9, then we should push to next R at 20.11. (4hr TF)
This strategy is SHORT TERM and only during market opening volume. In case optimal volume or price is not reached during the earlier part of the market session I will close my positions.