TraderNoxtreme here for a quick trade recap for you all.
This one pretty much fell in my lap which is what you want in trading. This being said, the more you search for setups the more trades fall into your lap.
Last night a YouTube video alerted me to a small gap setup on NIO. I quickly charted it and threw it on my watchlist.
Premarket NIO pushed up into the gap (missing the gap fill by a tiny bit).
On market open NIO pulled back then pushed up through the gap. I had an alert set at 3.61 to let me know it was time to see what would happen as I would have played it short if we clearly rejected.
What happened was we formed a few 2 min candles of support right on 3.61 and then we got one strong confirmation candle which prompted my entry at 3.66. We then pulled back a little and found support at 3.61 (the dip under was a bit sketch but I held through because we had EMA 26 and I knew we had already filled the gap twice so there was some faith involved).
After we got through the moment of panic, we pushed back up and I just kept a mental stop at EMA26 until we broke through 3.66 and it was clear sailing. I took off 1/4th of my position at 3.76 to give myself a buffer just in case we tested 3.61 again but it was not needed.
We ran all the way up to 3.90 and I put in a sell at 3.98 thinking 4 psychological would be a good place to get out since nearly ever time frame was oversold at that point.
We pulled back a little and then I noticed there was a seller who was throwing massive amounts of shares on the ask at 3.85.
I waited for an hr but when I saw the hourly candle close as a indecision doji at the top of an uptrend, a big buy volume spike on the 2 min that could not break through and all important time frames were oversold or close to it, I made the choice to exit my remaining shares at 3.85.
Glad I did!
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Like this idea no matter what.
Join the Discord group we are building. We never stop learning and we do good things :)
discord.gg/Uca8UY
This one pretty much fell in my lap which is what you want in trading. This being said, the more you search for setups the more trades fall into your lap.
Last night a YouTube video alerted me to a small gap setup on NIO. I quickly charted it and threw it on my watchlist.
Premarket NIO pushed up into the gap (missing the gap fill by a tiny bit).
On market open NIO pulled back then pushed up through the gap. I had an alert set at 3.61 to let me know it was time to see what would happen as I would have played it short if we clearly rejected.
What happened was we formed a few 2 min candles of support right on 3.61 and then we got one strong confirmation candle which prompted my entry at 3.66. We then pulled back a little and found support at 3.61 (the dip under was a bit sketch but I held through because we had EMA 26 and I knew we had already filled the gap twice so there was some faith involved).
After we got through the moment of panic, we pushed back up and I just kept a mental stop at EMA26 until we broke through 3.66 and it was clear sailing. I took off 1/4th of my position at 3.76 to give myself a buffer just in case we tested 3.61 again but it was not needed.
We ran all the way up to 3.90 and I put in a sell at 3.98 thinking 4 psychological would be a good place to get out since nearly ever time frame was oversold at that point.
We pulled back a little and then I noticed there was a seller who was throwing massive amounts of shares on the ask at 3.85.
I waited for an hr but when I saw the hourly candle close as a indecision doji at the top of an uptrend, a big buy volume spike on the 2 min that could not break through and all important time frames were oversold or close to it, I made the choice to exit my remaining shares at 3.85.
Glad I did!
SUBSCRIBE for more.
Like this idea no matter what.
Join the Discord group we are building. We never stop learning and we do good things :)
discord.gg/Uca8UY