what went wrong with this trade?

Discussion in 'Technical Analysis' started by rcsmie, Jul 15, 2020.

  1. rcsmie

    rcsmie

    It says at the top left corner, I guess it's a bit dark to be able to see.
    The ticker is CPTA, the entry was marked by a yellow line above the last candle on the right-hand side, the line represents the price 2.76.
     
    #11     Jul 16, 2020
  2. maxinger

    maxinger


    You have to focus on the Big picture rather than the P thing.

    Big picture :
    peak price was around $20. price has been going down since 6 years ago.
    Recently price went down decisively ( this is the 3rd decisive down movement ) in early Mar 20, after breaking the rising trend line.
    Subsequently, from mid Mar onwards, price is moving in range (around 2 to 4.5 level).

    question traders might ask is : will there be 4th decisive down movement?

    I see that there was significant increase in volume on 15 Jul , Wednesday.
    That was probably the day you longed the stock.
    Personally, at this moment, I'd find it difficult to profit from trading such stocks.
    If I were to trade such stocks, I'd trade with very small quantity
     
    Last edited: Jul 17, 2020
    #12     Jul 17, 2020
    rcsmie likes this.
  3. Erin

    Erin

    My chart is a 2hr - but I would have considered that price gap where we had sell orders that turned to buy orders - the question is will the buys continue to hold here
     
    #13     Aug 4, 2020