Posted by jtsurfah on 23rd of Jun 2020 at 01:14 pm
Hindsight 20/20 but yesterday's low represented a clear
break of the pattern we had been watching. I guess with plays
like these it's best to trade super small and give it 20% or more
space. Maybe a stop down around the 4.20 area?
Posted by frtaylor on 23rd of Jun 2020 at 02:20 pm
Yeah, I should have looked at the daily candle yesterday near
the close. And on your chart it just had a little "Pinocchio" as
you like to say, barely poking below the line. Also, for
whatever reason, when I charted it just now on
tradingview.com it didn't
even break the trend line. I wish I'd looked at it there before
setting my stop (which was too tight anyway, imo).
Yes KDMN never even breached the trendline but more importantly
what was your trigger for entry in the first place and stop.
If stopped then why not rebuy above yesterday's high?
Posted by frtaylor on 23rd of Jun 2020 at 02:49 pm
I bought a starter position within the pattern at the break of
the hammer candle that formed on June 16th. Whenever I do that I
take a small enough position that essentially I don't care if I get
stopped out. My stop was 4.38, should have been 4.35 to be a couple
cents below the wicks formed on the 15th and 16th. In any
event it was a very, very small position and doesn't matter to
me.
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Exact same thing happened to
KDMN - add this one to growing list of watchlist ...
Posted by frtaylor on 23rd of Jun 2020 at 01:09 pm
Exact same thing happened to me. Maybe our stops were just a little too tight? I got stopped out to the penny on yesterday's low (4.38).
Hindsight 20/20 but yesterday's low
Posted by jtsurfah on 23rd of Jun 2020 at 01:14 pm
Hindsight 20/20 but yesterday's low represented a clear break of the pattern we had been watching. I guess with plays like these it's best to trade super small and give it 20% or more space. Maybe a stop down around the 4.20 area?
The close is what matters
Posted by steve on 23rd of Jun 2020 at 02:07 pm
The close is what matters most and KDMN bounced off support and closed with a hammer candle. That pattern remained intact with a HIGHER LOW
Yeah, I should have looked
Posted by frtaylor on 23rd of Jun 2020 at 02:20 pm
Yeah, I should have looked at the daily candle yesterday near the close. And on your chart it just had a little "Pinocchio" as you like to say, barely poking below the line. Also, for whatever reason, when I charted it just now on tradingview.com it didn't even break the trend line. I wish I'd looked at it there before setting my stop (which was too tight anyway, imo).
Yes KDMN never even breached
Posted by steve on 23rd of Jun 2020 at 02:30 pm
Yes KDMN never even breached the trendline but more importantly what was your trigger for entry in the first place and stop. If stopped then why not rebuy above yesterday's high?
I bought a starter position
Posted by frtaylor on 23rd of Jun 2020 at 02:49 pm
I bought a starter position within the pattern at the break of the hammer candle that formed on June 16th. Whenever I do that I take a small enough position that essentially I don't care if I get stopped out. My stop was 4.38, should have been 4.35 to be a couple cents below the wicks formed on the 15th and 16th. In any event it was a very, very small position and doesn't matter to me.