Thursday, May 18, 2017
5/18_GLYC, CETX-Nasty TRAP!!!!
happy with my trades today overall. Glad strange action near LOD, no real and clear selling exist so covered all position which turned out the best thing I did. Nasty red candle slam and making new lows trap!!!!!! If I were my old self I would stubbornly hold and get fucked. On hindsight I should have longed some but it's difficult.
beautiful HOD breakout and consolidate above it and picture-perfect use resistance line as support. I should have recognized it earlier and covered all but didn't. That trade wiped out $1k profit.
Patiently waited for the late day and shorted near HOD risking $11.50. Covered too early because I was afraid of random 30-50 cents upward candle. Overall I did well by focusing on entry(short breakout) and cutting position when based/failed to crack and took profit and run.
Tomorrow hopefully no offering news and we may get secondary squeeze!! People shorting big on it and depends how the support reacts to the selling and volume will trade accordingly. No bias!!! Hope this play light up small cap sky!
great entry but exit is bad. no real selling and I lost patience and say fuck it imma out. I don't care what it would do later.
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