December 27th action on GRRR. Famous enough company, famous ..
Added 2024-12-31 00:52:03 +0000 UTCDecember 27th action on GRRR. Famous enough company, famous enough small cap stock, yet look at this babe! Usually, I love sharing charts that blow expectations out of the water. This time, I want to share the type of chart you love to hate! And if you ever got into learning how to trade, you may have seen this infuriating abomination before.
Let us say for simplicity that you are a long bias trader- no shorting. The stock pops up on your screener, the first candlestick exhibits a home run type of start and you are off to the races- or so you thought! Next thing you know, this thing collapses onto itself like a neutron star, all the way down to the open of the day or so, and then the stupid ass stock takes all day to get you to about a break even or so... It is price action like this that still keeps me studying instead of applying what I have learned so far! If I had to watch myself barely break even instead of getting an easy 8-12 percent out of this, I would be squeezing my nipples in anger and then regret is 3 seconds later as soon as I realize I would rather squeeze your nipples instead ahha! :P
If you ask me, a teachable moment from this one is to not trust a strong opening candlestick on the 5 minute chart if it busts through Camarilla R4 this early in the game...
Anywho, now you see that the glasses I wear are not just a prop :P
