Trend line on the 30-day chart shows GMXR ready to reverse course, but if you're trading intraday who cares.
SOLD AT 24.70..GMXR is now at 24.98. had to take the quick .53 cents. had 1200 shares. i took the easy money as usual and stuck to my game plan. i am done for the day.thats what i do,i pick one stoc
Why didnt you just use a trailing stop? If you used the trailing stop, then you would have been up at least 600 dollars more on the day. Let me show you what is going on. Its a Bollinger band whipsaw. Price sold heavy under the bottom line with volume and now there is two possibilites with the highest probability, the middle line or the top line. 26.61 or 36.12. I know your trading prop. I would have set the trailing stop at 10-15 cents on the breakout and walked away from the terminal to go get something to eat.
The high of the day was 26.52 as of 11:41am and look at where the middle line (20 day SMA) is set (26.61). There was no real pullback until it hit that 26.52 mark.
I have a feeling we might see much higher pricing soon on GMXR. Look at XLE, $WTIC and the Eurovsdollar.