Ritter Pharmaceuticals Inc (RTTR)

[Sendme]

I gave up trying to catch the bottom on any stock. I am sure that you have a good trading plan when it comes to these plays. I try my best to stick to some type of a pattern play. This is just an idea of what I try to look for. The same technique works on any time frame, however when I think that a stock is close to a reversal, I like to use the 60 minute chart for an entry and then if volume kicks in on any type of breakout, I will try to catch a pattern on the daily chart.

This is just an example of what I try to wait for. 60 minute chart


Then looking at the daily chart for a bigger short squeeze. It takes big Kahoonas to buy a stock that is up over 400%, but I have back tested this on several short squeeze plays. I believe that traders like that 1:2 risk reward trade and so I try to see where they might take profits and exit with them, or at least use a trailing stop/scale out etc.

I don't like to buy an initial break out, but wait for a full candle to form above a trend line and then wait to see if it takes out the previous swing high within a few days later and starts the short squeeze.

One more example ONLY

60 minute chart on RTTR broke a trend line, but lacked the follow through. Also had a potential Inverted H&S pattern, but again couldn't stay above the neckline


Just thought I would share some of my thoughts here, often posters think that I am bashing a stock when I post a bearish chart, not the case, just being cautious and looking for my signals and entry triggers.

I think it was Radio Shack when I first started reading ihub that I saw you and GMONEY4 (I think) I got lucky and bought close to the bottom and sold on the first pop for a few bucks only to watch the price get short squeezed and couldn't believe it. Wasn't until late last year that I finally started to study chart patterns. Especially after averaging down on stocks for years only to sell the first chance to break even. LOL
I honestly did that on DCTH and sold at .07 when I got to break even.

I know this is more info than you care to know, just wanted you to know that if I post a bearish chart on any stock you are watching, it is not an attempt to bash, not my style, just looking for that entry point based on my style.

Best of luck my friend.