Sixth: Fighting Trend

Summary

Another loss because I rushed and did not pay proper attention to the chart movements. It was a decent plan, but I was fighting the BIG picture. This chart went big and consolidated before coming up to the point in the picture. I should have just considered it part of consolidation and went along with the trend. Something that I again, failed to do. 

Ticker: VLTC

Should have followed the trend and thought long when looking at this chart. Before it created a ascending triangle, I thought it made a lower high and was ready to fall. However, it held $4 and kept on chugging along. I should have noticed the ascending and switched positions from short to long. I waited too long to sell out.

Note: It seems like there is a difference between where I thought was top and the actual  top after the run. Before the chart snaps down, the base seems to be more concrete @ $4.40 and each bar is closer together forming lower highs. The volume also indicates that while trying to push forward, it is failing.

Note: Don't fight trend!

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.