The Super Terrific Happy Hour
- Thread starter Max E.
- Start date
Watch CAB.... its been going down, I just legged in long at 61.12, I think its gonna pop.
Anatomy of a broken trade,
This one is going to make me miserable cause i called it out so early, but im just trading supeer passively today just trying to get my feel back and confirm i know what im doing, but the support at 38 was so textbook after a move like that.
I passed on the first bottom on CMCSA, then passed on the double bottom at 38.30 This trade had all the hallmarks of a good bounce play, there was so much support at 38, but i wanted the trade to be perfect, so i was insisiting to myself on allowing it to get to 38, so i passed the first time it bottomed, I passed the second time it bottomed at 38.30, hoping for 38,
But by the time it starts ticking up offf the bottom after the third attempt to break the lows at 38.30, that should be a no brainer long if you think you got the chart read properly, i dont know how i passed on that, could have taken 3-4k shares on it without moving it a tick.
Support in my eyes was 38, but it just wasnt getting there and it created its own support on the 2 min at 38.31, i should have started buying there, it doesnt mean i should sit on the support line at 38.31, third time around cause i had no cluue if it was going to hold.
But an example of a good trade here would have been to buy it when it held 38.30 the third time, when it snapped back up over 38.50, so maybe go long low .50's with a 20 tick stop and a 50 tick+ target, its just a really good risk:reward setup.
Chalk this one up to rust, but its an aggravating miss.
Here is the daily chart to show what i was seeing at 38 in the same post.
This one is going to make me miserable cause i called it out so early, but im just trading supeer passively today just trying to get my feel back and confirm i know what im doing, but the support at 38 was so textbook after a move like that.
I passed on the first bottom on CMCSA, then passed on the double bottom at 38.30 This trade had all the hallmarks of a good bounce play, there was so much support at 38, but i wanted the trade to be perfect, so i was insisiting to myself on allowing it to get to 38, so i passed the first time it bottomed, I passed the second time it bottomed at 38.30, hoping for 38,
But by the time it starts ticking up offf the bottom after the third attempt to break the lows at 38.30, that should be a no brainer long if you think you got the chart read properly, i dont know how i passed on that, could have taken 3-4k shares on it without moving it a tick.
Support in my eyes was 38, but it just wasnt getting there and it created its own support on the 2 min at 38.31, i should have started buying there, it doesnt mean i should sit on the support line at 38.31, third time around cause i had no cluue if it was going to hold.
But an example of a good trade here would have been to buy it when it held 38.30 the third time, when it snapped back up over 38.50, so maybe go long low .50's with a 20 tick stop and a 50 tick+ target, its just a really good risk:reward setup.
Chalk this one up to rust, but its an aggravating miss.
Here is the daily chart to show what i was seeing at 38 in the same post.
Last edited:
NLNK is somthing that could go another 5 bucks tomorrow on this kind of volume in this environment, everyone has their eyes on it right now, and it just absorbed an Adam F tweet with no problem, this has all the hall marks of something that goes parabolic, it rolled the float today, and 24% is currently short, im hoping it doesnt gap up cause then its in no mans land and i most likely wont be able to find shares to short. Hoping for a dip to buy tomorrow off the open.
Guys i cant stress this enough, if your faint of heart, or you are new do not touch NLNK tomorrow, do not go in big, and only add to winners, DO NOT AVERAGE DOWN ON THIS, DO NOT SIZE INTO THIS.
But this is setting up the way i want it too, its drifting downwords, there is really no levels to look at it on the daily but im thinking the 200day SMA @ 12.50, plus daily support there so that is where i think it holds on the daily.
On the 2 minute chart i have a bunch of support lines drawn out but the first one is 13.
Here is the daily.
But this is setting up the way i want it too, its drifting downwords, there is really no levels to look at it on the daily but im thinking the 200day SMA @ 12.50, plus daily support there so that is where i think it holds on the daily.
On the 2 minute chart i have a bunch of support lines drawn out but the first one is 13.
Here is the daily.