Ticker: SCRC
This was my first trade of the new year. It was a stock VinnyB recommended in the morning at 11:30am on 1/05/2015.
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| I took the trade because it broke through previous resistance @ $0.17. I thought it had potential to make a move like it did in February. I wanted to sell out around $0.19-$0.20. |
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| I BOT @ $0.1775 because it broke $0.177 which was the intraday's resistance. Since I wanted to swing it for the next day, I think I should have waited a little longer to make sure it didn't fall right back down. As long as it stayed about $0.17, it was a buy. |
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| I SOLD @ $0.1925 because I thought the move was over based on volume and L2s, which it was. My mistake here was just focusing on the 5 minute charts. If I saw the big picture on the 15 minute, I would have known that it had another shot up. I got out because I didn't want it fading on me. |
Predictions for tomorrow: I think this chart will hit $0.20 and maybe even higher tomorrow morning. This is because it stayed above yesterday's high with good volume. After that, this chart is already overextended so I am expecting a flush once it hits next resistance. I wish I could short it.
Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic.
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