Today was really slow to start off. As I reported on the premarket, SEEL was a ticker that I watched on the open! Unfortunately, it quickly died right at the open and didn’t really offer any clean trading opportunity.
As I was about to close down the computer and move on with my day, I just happened to notice GBR on the scanner! I opened the chart and was very fortunate to have pulled the chart up as it was experiencing its first pull back on the five min chart.
I entered my position with 2k shares on that dip and filled at $3.03 cents. After holding for a couple of minutes, It quickly popped up above its previous resistance point putting my position into the profit. The trade is shown on the chart below!
This was a really solid trade!! I honestly was expecting today to be a no trade day. I entered the trade solely off of the chart, I only slightly noticed support at the $3.00 dollar area. This gave me the confidence to enter the position and hold through the consolidation.
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