So it has gone into a steeper uptrend towards the end of the triangle.. I think that it may breakout even tomorrow. I'd keep an eye on it early in the morning
Comment:
you cant tell by this chart but it has broken 5.70 and is holding there.. it looks like it's trying to form a bull flag, i might have stop losses a little higher i have mine at 5.66 but i dont know enough about them to have it higher for fear of missing the big spike.. Imma get lunch tho and leave it because most price movements are just noise, my gut says this is the breakout tho.
Comment:
what i learned today was dont buy so far from support. If I'm gonna buy something it should be so close to support that my stop loss wont cost me very much if i intend to use it. I burned all my day trades probably until next week but that's okay. Four quotes come to mind, "One good trade will not make me rich, but one bad trade can easily ruin me." ~Tim Sykes, "dont trade until you see it" ~Constantine Brown. "There will always be another war, that I can assure you." ~Achilles, and "dont levy troops because you are angry or impatient. Anger may turn to happiness and impatience can turn to contentment, but kingdoms cannot be rebuilt once fallen and you cannot bring the dead back to life." ~Sun Tzu
Comment:
should have bought today when i saw it was at 5.40 premarket, i was too set in stone to buy once it was lower but it never went lower. Rubber band man. The market will bounce and snap back and forth, the further it is from support the more dangerous it is to buy in, it would have been so much less risky to buy then than it is now so now the new entry points are if it breaks resistance and buy after it curves back down or it fails resistance again and goes back to the bottom of the triangle.