10 day MA has flipped from resistance to support
is telling a similar story
has increased steadily over days
Sell when it touches the 'first trouble area' in the nearest overhead resistance.
Invalidated if it dipped back down to the local support, or 10 day MA failed to hold as support.
- Wasn't using a benchmark for this trade - was not looking at the HMMJ.
Had I been looking at HMMJ, was clear all #weedstocks were overbought and needed a correction before next move up.
Too reliant on one indicator (THE RSI) which statistically has very poor performance when used on it's own.
Needed to see confluence between several indicators PLUS the market benchmark to get this trade right.
Would have then slowed down... waited... and got in later on.