Good Evening guys and gals! I hope you had a fantastic day. Overall the Markets were relatively slow, but as the Market neared towards power hour things heated up. There is a handful of plays to talk about. I only placed one trade today on $ACST. Overall I did lose more than my risk level, but taking full responsibly is apart of this game. I TAKE FULL RESPONSIBILITY. Again I did manage to get the trade Live. There are many lessons on this one particular stock that I will discuss in the recap below. Have a great night!
In a nutshell, the chart below is the SAME fucking pattern that comes around often. This may look very confusing to you, but I hope I can help. Overall this has been in a constant run-up over the past month without no significant pullback. For Example, I did a recap on $REKR, which was an absolute gift from the Market. I will compare the two in the video recap above. Hear me out, I don't care how well the "Company" is or maybe. I'm not here for that. I trade the Ticker before NOT the COMPANY. I trade pattern recognition. I make the analogy that this is like TERRACE. $ACST and $REKR are different companies, but both have the same pattern. $REKR did have a major MOMO shift, now it's just a matter of time before $ACST MOMO shifts. So what's the game plan? I will not force a trade, I will let the trade come to me. With that said. The higher the better with $ACST, but it has been topping out below the whole dollar mark of 3. Think that's a coincidence? NO! If you go back on the daily this is a recent runner and it has numerous times failed to HOLD it's spiked. Don't worry I will explain all this in the video recap. This has been moving like a chopped salad, but it's only a matter of time until we see a trend change. The question is will that be too the upside or the downside? I'm not here to play guessing games. Whatever the Market Gives me I will take it. The longer this consolidates under $3, the more pressure it will put on LONGS and SHORTS. Ideally, if this consolidates the next two days, and we see the level of $2.80-$2.75 cracks we could see the major reversal. That's my insights. Again if this sounds confusing forgive me, the video recap should clarify my major points. See you soon!