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Tuesday, April 09, 2019 5:20:49 AM
Sorry, but 99% of OTC stocks fail and everyone thinks they hold that 1%...
Play the odds, not against them...
That's what charts ultimately are for... To visualize the probabilities of something happening or not...
You can all listen to the bearish setup on the chart, that consist of a Bearish 3 Gaps Up pattern that transitioned to a Bearish Engulfing Candle pattern on the beginning of a dip yesterday that I used the chart to predict last week to start as of yesterday...
Or you can ignore it... Have it your way, but I'll do things my way, and the chart is telling me a retrace to at least 5s or 6s is happening here... We have a bearish setup and price action support below is at $0.055 where the 20 day MA is, and the fib retracement support begins at around $0.065... Nothing says it can't dip lower, but I'll worry about that when I think it found its bottom... We'll see where that happens at... That's why I prefer bluish trending stocks, because their dip is usually just a set back as no stock moves straight up, all trends have dips and such... So I flow with the bull trend to increase probability of a good bounce on a dip...
Yeah, my profit take is smaller per trade, usually 25 - 30%, but I am a fairly consistent winner doing this my way... Those who try to hold out for more might even sometimes get more, but they also usually have a high failure rate most won't admit to as well...
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