IPOB: Weekly restest into major structure
Updated
IPOB is buyable at this level.
This is a high risk stock so position size should be small enough to accept a possible gap down to as low as $19. Price could get as low as 19.50 and still not invalidate the long set-up, though that would not be an ideal restest! Ideally the restest right here flips the stock back into an uptrend. I am long from 18.50 and added today at 20.90.
I'll be starting a live trading room of some sort for free in the coming weeks or after the New Year depending on the level of interest. Still thinking about how to set it up. I will showcase my trade management which is the most important thing in trading. (Active day trades/swings trades/etc). DMs are open if interested in joining.
This is a high risk stock so position size should be small enough to accept a possible gap down to as low as $19. Price could get as low as 19.50 and still not invalidate the long set-up, though that would not be an ideal restest! Ideally the restest right here flips the stock back into an uptrend. I am long from 18.50 and added today at 20.90.
I'll be starting a live trading room of some sort for free in the coming weeks or after the New Year depending on the level of interest. Still thinking about how to set it up. I will showcase my trade management which is the most important thing in trading. (Active day trades/swings trades/etc). DMs are open if interested in joining.
Note
Stop is set at 18.45. Price needs to get back above the ~20.50 level. Here's how I see price action develop in the coming days:
Note
We closed above 20.50 as needed. Now looking for a break above ~21.50 and it's back in the game. Stop could be adjusted higher to just under 19:Note
Bullish gap above previous highs. Now looking to revisit ATH. I remain long, stop tightened to breakeven.Trade closed manually
Getting out here. Will revisit when things cool down:Note
retesting highs and back in:
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