CRNC - Nov 24 Extremes To Median Corrections

30 Nov 2024

Strategy - Extremes To Median Corrections

• 21 Nov Earnings: Sales are the lowest in the past seven quarters. No clear justification for the 172% spike, likely also contributed by a short squeeze.
  
• I expect price to normalise towards the median or the H1 SMA100.
  
• This is also a bet that greater force (RUT) will be unable to breakthrough it’s current key level and breakdown.
  

• Grading B 6points
  The idea
  
• No idea, it is a pure technical play +1
  
• Stocks fundamental are also aligned +1
  
• Greater force (Broad market)
  
• Confluence in direction +2
  
• Technical positioning
  
• Three elements +2
  - Price within consolidation
  - There is long momentum candle to signal entry
  - Volume has died out
  - Risk reward is 1.99 - 2.88R
  

10 Dis 2024

Dagangan ditutup secara manual

10 Dec
Lost this trade as price suddenly reversed. When price refused to break lower for 4 days, I should have close the trade early or maybe reduced my position.

I pegged this as a bad trade as I did not have a proper plan when I was in the trade. What patterns to close early etc. Also this is a double bad trade because I accidentally bought more short positions when I was attempting to close the trade.