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BTX just nothing to say lol. Took a small loss on this today, was entirely evident as we’ve mentioned about how much they enjoy targeting shorts so nothing I fought with at all, but also didn’t see 50 in the cards, that was just absurd. Not even going to attempt to go after it rest of the week, when you want revenge, that’s usually a poor waste of your mental and monetary capital. Hard to actually put it down, but it’s usually for the better.
GALT: Fairly surprised this went again, now it’s super interesting. We’ve snuck through long term resistance at both 4.50 and 5, so if there is ever a spot for it to turn, it would be off a gap up tomorrow. Hoping for just that, and will be there mid 5s once it starts to stall out a bit.
UXIN: Nice one here, hoping they have one more day in it, and then anything into 3.50+ would be an ideal spot to start thinking fade. Weak open & 3 reclaim for an early long, and then flip short 3.50s+ area would be the ideal scenario for me.
PLBY: This one is playing out as I had suspected, a very steady seller there for the past 2 days, whoever accumulated all this knows exactly what it is, and will likely continue to cash in on their absurd investment as quietly as possible as not to spook anyone. That’s the type of action you saw today, and the kind of action I expect we’ll continue to see bigger picture here moving forward. Will continue to revisit and short pops until it stops working. It’s just eye popping the amount of accumulation that occurred here over the last few months, and just remember when they’re eye popping on the way up, they’re usually eye popping on the way back down too, don’t underestimate either way. Nice so far.
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See you out there!
-D
Thanks Dante
Thank u Dante
Legit scan – thanks Dante!
Dante i like how you put in the your Mind of a Trader video series . The importance of trader psychology and the Red alert mentality( when trade goes against you and you want to give it time) and the quicker we can acknowledge that the Market is always right. The simpler trading becomes. As you i’ve taken the Long road to this cross roads
. Im glad to find a group were process is more important that profits. Easy for me to say but maybe everyone that want to success in trading must find themselves go thru that journey of pain. Understand the buy or sell button doesn’t guarantee profits. Its sticking to a process win or lose to capitalize on opportunity .
Humble1