SWIM - Chart Link- took out that 3.5 offer
earlier, mentioned this one this morning, been a long ideaa on
watchlist since Monday
whenever I see a large offer on level 2 near resistance, that's
generally a pretty good entry once that offer/sale gets taken out,
it's kind of like a cork that comes off a bottle and
pops.
my strategy with those: you could place a buy stop at 3.51, but
if you do that many times your fill isn't good, might not fill
until 3.55 or something, you could try a buy limit
otherwise what I generally do is watch the offer on level 2 and
once it starts getting eaten into maybe 70%, I'll go ahead and
buy,
I didn't take a screenshot of level 2 for SWIM the offer was
about 40,000 shares at 3.5 exactly before it was taken out
but here's a couple past examples of what I'm talking about -
huge level 2 sell offers that happen to match up with resistance on
the chart, once that big seller gets taken out, the stock generally
pops
SRNE had a seller with a sell order of 275,000 shares at 11.00,
which happened to match resistance. The typical offers were only
800 - 1500 shares so that make that 275K offer huge relative to
anything else
JFU had an offer of 110,000 vs the typical few thousand share
offers around it
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SWIM
Posted by matt on 21st of Mar 2024 at 09:43 am
SWIM - Chart Link- there's a big offer at 3.5 on level 2, once that offer is taken out maybe it pops some
Update: SWIM
Posted by matt on 21st of Mar 2024 at 11:33 am
SWIM - Chart Link- nice trade on this so far, supply zone target is noted
Update: Update: SWIM
Posted by matt on 21st of Mar 2024 at 02:50 pm
SWIM - Chart Link- got into that supply zone where I took some profits
Update: SWIM
Posted by matt on 21st of Mar 2024 at 10:32 am
SWIM - Chart Link- took out that 3.5 offer earlier, mentioned this one this morning, been a long ideaa on watchlist since Monday
whenever I see a large offer on level 2 near resistance, that's generally a pretty good entry once that offer/sale gets taken out, it's kind of like a cork that comes off a bottle and pops.
my strategy with those: you could place a buy stop at 3.51, but if you do that many times your fill isn't good, might not fill until 3.55 or something, you could try a buy limit
otherwise what I generally do is watch the offer on level 2 and once it starts getting eaten into maybe 70%, I'll go ahead and buy,
I didn't take a screenshot
Posted by matt on 21st of Mar 2024 at 10:34 am
I didn't take a screenshot of level 2 for SWIM the offer was about 40,000 shares at 3.5 exactly before it was taken out
but here's a couple past examples of what I'm talking about - huge level 2 sell offers that happen to match up with resistance on the chart, once that big seller gets taken out, the stock generally pops
SRNE had a seller with a sell order of 275,000 shares at 11.00, which happened to match resistance. The typical offers were only 800 - 1500 shares so that make that 275K offer huge relative to anything else
JFU had an offer of 110,000 vs the typical few thousand share offers around it