A very poor trade after not trading for a week or so, felt kind of like I "should" trade as it looked like market was oversold, so time to get in. Sort of a T30/TAZ trade though looking back perhaps the support wasn't so great.
Also, on entry, stupidly undercalculated risk amount and didn't realize until right after.
Lesson? Be especially mindful after not...
Initially had nice follow through after failure test 5 FEB but then shot back up. My original mental stop was going to be high of failure test but it looked like rising strongly. Got out with ~ 1$ loss. Lesson learned? Get out on strong counter move to my prediction.
> Year long uptrend though may be flattening out. Failed just over 75, now showing possible set up for anti. Must wait for pullback, unless 1 FEB was all it'll get
Multimonth uptrend (just completed 3rd leg up) shows signs of exhaustion with a couple buying climaxes in late January. Followed by strong, abrupt move down. Just possibly finished first pullback in downtrend, with buying climax on February 1. However, move down on Feb 4 not as sharp as desired so more observation need. If if clears recent lows likely down trend...
On both weekly and daily price showing climaxing behavior, with slide along upper Keltner channel and then a pop above it all during January. End of month shows rejection of 2011 high with 31 JAN showing attempt to break through again. Current 52 week H is 18.95
