CXL Calix Chart Thread, page-8

@mallis,

In response to your question from the other thread, I never entered that trade as despite the weekly close
it achieved, on the actual day of the break on 02/09/20, the volume was not so impressive
and the close on that Friday (the 4th) was a candle that showed a bit too much indecision, I kept watching the
next few days and nothing of meaning transpired... I could well have taken an aggressive shot on that (if I was
feeling a little trigger happy and would not have had major regret doing so, despite the fact that it would have
been a failed trade. My main goal is to cut my losses quickly and as long as I do that, I can afford quite a lot
of failures... I have no expectation of getting them all right, that is just not how it works...

False breakouts are very often followed by real ones and I have no problem taking a second shot when
it is warranted. I am rather disappointed that I did not set an alarm as it slipped through the cracks and I missed the
real break in January. Lovely little C&H type formation with a tight rectangle consolidation around the resistance level.
The break on 20/01 was great with a gap and high volume (you need to zoom in to see it since the super
high volume candle on 02/02 now distorts everything else completely). It did not even test a stop-loss and it is a real
shame I missed it. It would have gone down on my list of most profitable trades for the year.
I Likey would have exited part of my position at around 1.53 (as there was no reason to do so sooner)
and the rest at 2.40. I seldom stick around from more than two solid moves like that unless I have some real fundamental
bias, which is rare (as it takes a lot for me to be confident on that side of things).
There was a top-up opportunity on 22.02 (again on good volume if you zoom in) which reached its target...
I seldom stick around from more than two solid moves like that unless I have some real fundamental bias, which is rare.
It is actually consolidating nicely (though no pattern is clearly definable), but the wicking in both directions on the weekly
candles seems to indicate quite a bit of indecision. If I was looking to catch another leg up my stop would have to be
below 1.97...
All the best