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Fair enough. I guess it comes down to intention, if it was to...

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SaberX

4,708 Posts.

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18/04/17

17:04

Post #: 24121272
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Originally posted by Trial99 ↑

For me today's FMG trade was a ST bounce trade buying off support at $5.20. FMG has been sold down heavily from $7.20 recently along with IO stocks generally and Dalian exhibited some ST support also. My expectation was a retraction back to $5.50 over the next couple of days.

When support failed with further weakness indicated in the chart was a signal that this was a failed trade. Best to get out quickly rather than hope it would turn around.

Would say it is subjective as most chart reading has an element of that but if YOUR reading shows the pattern failed then get out.

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Fair enough. I guess it comes down to intention, if it was to always trade in and out on the intra day - then day trading surely - versus an intra day confirmation of failure of pattern/your rules resulting in a same day exit.
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