premarket long with set risk, stop lvl triggered so cut the loss quickly! casino trade but I kept loss under control!
it kept reclaiming so I said fuck it!! Imma out! good trades!
knowing the fact this is piece of short so I kept myself short biased the whole time unless chart says otherwise. My plan was EOD post 2:30pm crack. It did exactly I wanted but the only problem was I couldn't get filled enough once the time was right.
relative volume tells me no short!!! but I got tricked!!! yes the relative says so BUT the price couldn't break above HOD 3 times!!!!! this is 50/50 type of situation. the best is perhaps avoid! After I covered all I flipped long and got dumped!! Choppy stock messed me around. Hard to trade both long and short.
I reshorted due to vwap snap but the price action looked very strange-huge spread and barely selling pressure exist!!! I should have recognized it and covered but I kept waiting waiting waiting but fortunately I covered the most before it absolutely took off!!!!Hadn't I covered my loss could easily balloon to 5-figure!!!!
Heading into late day there are 2 things likely to happen:
1) trend hold and higher low, higher low then BOOM EOD profit taking
2) making new low but reclaimed, so called "crack and grind" action which trapped all shorts then BOOM take off again into EOD spike!
This is perhaps the best trade of the day, I longed 2k shares at $8.6x and again adding liquidity at $8.8 and interestingly whenever I added shares it spiked up 20 cents from my entry!!! That's a very bullish sign!!!!! Especially combo with lower low flushing out weak hands and trapped shorts. I knew it could FLY~~~~~ and it did!!!!!
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