Trading Analysis

Ticker: ANGI

I am officially too poor to trade now, so I have resulted to doing trade analysis for myself to practice. This will help me in the long run because it will force me to look at each trade carefully and remind me of things I should be looking out for.  

I made this analysis on today's volatile mover ANGI. At first glance, the analysis may be very complicated and I am not sure if I am actually on the right track here. I made it based on my own experiences trading. So as I was watching this chart, there was this one bar that convinced me to buy, but I read the situation completely wrong. Luckily, I did not buy. After the morning move was completed, I went back to the drawing board to write up what I should have done.  

Analysis for Bounce Play

This chart had a huge day yesterday and during pre-market today, this chart just gapped down. My first indicator shows huge interest and it is ultimately negative as it gapped down and closed red. This means that the buyers were not able to overcome the sellers at this point. The next two bars, the price jumped, but the interest of the stock went down. This would have been a great place for me to start my short. 

On this analysis, I focus on when the bounce is. Indicator 3 was where I thought the bounce was initially, but looking back, I was foolish because the the volume did not even spike yet. I completely forgot about volume which is not a good sign. 

Start from Indicator 1 through 8 and it will tell you what indicators there are. I will be looking at this chart for review everyday. Since I am out of money, I will look for charts like these and maybe even swing charts and try to come up with signs of when to long or short.

In other news, I was stopped out of FMD @ $5.33. Fuck me.

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.