My thesis was short bias at the open but once I saw it was under VWAP and held the $4.60s and put on a higher low from Pre-market and open, I scooped dips keeping a tight stop if $4.60 broke and stayed heavy. However the bids kept absorbing prints and refresshing so I was more confident in my thesis. My goal was to scale out into resistance at $5, $5.20 and $.5.50. However my platform ( etrade ) froze and I couldn't put any orders ( FUCKED UP!!!) So I had to go the etrade website and input my orders :( ( COMPLETE MINDFUCK!!!)
Thank God I was able to get out as planned.
What I did right:
-I adjusted on the fly from short bias to long bias based on price action which something I have been working on
-I had a plan for my entries and exits. ( scale in and out)
-I scaled in near /at support and scaled into resistance
What I will improve on:
-My original scale was in the high 80s which fucked me up a bit and made me a bit anxious. So in the future I will look to scale into as close as possible to support around $4.66
Overall Great trade. Risky trade since it was day 3 on an overextend stock. But I had a plan and this was factored in it.
Execution detail:
Good work flipping bias! I started short too but just let it go after getting out for a scratch.
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Nice trade!