trebuia sa iau 50 de centi...
initial, cind am deschis poza, am asteptat sa cada mai mult.
There was no strategy here. I just anticipated that the price will plow through VWAP, 21 EMA and pre-market high so I went long here but the resistance, obviously, was too strong and I got stopped out.
I took a bigger loss. I should've exited when price held below previous day close and also below a major support.
This was a quick trade but wasn't a good trade.
The price was stuck between a short range between pre-market high and a level that I marked of of daily.
Also the price was almost running into VWAP, 21 EMA and pre-market high resistance so this is why going long here was a bad idea.
I am not sure why I entered this particular stock at this time.
In hindsight, I can see that the price was just under the 21 EMA and I entered long just 10 cents below 21 EMA. It did work in the end. Was a good scalp.
The market bounced really hard because of the surprise news by the Feds. They cut the price in order to make sure the US economy does not get affected too much by Coronavirus.
I jumped in this trade as soon as I saw the market rip. Clearly it was the FOMO trade that worked out well.
There was a bit of a pattern there too as the price bounced of of pre-market lows and left a bottoming tale on the 1 minute chart. The price rested the next minute and it was a good long entry at the break of this resting candle.