Trading

12/6/18 Trade Idea : Long $ECYT

12_6_18_ECYT

12/6/18
Price action trend change in progress with momentum
(Error, there was actually a lack of momentum with the price interval only closing at 38% of the days high (red arrow). This should never have been a buy. I have not reviewed the rest of this trade as it shouldn’t have happened.)

Buy 50 shares at $15.03
Stop loss at $12.38
RSI is 63 and trending upwards
MACD-ML positive @ 0.42163, MACD-MS positive @ 0.0009. Histo @ 0.2154 (tick above 0.2)
MACD-SL positive @ 0.4554, MACD-SS positive @ 0.3442. Histo @ 0.1112 (tick Line above signal and positive)
MACD-IL positive @ 1.7963, MACD-IS positive @ 1.6711. Histo @ 0.1252 (tick Line above signal and positive)

14/6/18
New pivot high confirmed at $15.45 which also confirms the uptrend.
Price tested the EMA6.
Monitor to see if a price action trend change comes into play.

15/6/18
New pivot low confirmed at $13.75
Move stop loss to $13.55

16/6/18
Leave stop loss at $13.55

18/6/16
Stock trying to break out of symmetrical triangle.
Productive close, continue to watch.
Maintain stop at $13.55.

19/6/18
$13.75 level tested and held.
Maintain current stop and watch for breakout/down.

20/6/18
Price action appears to have broken above an asymmetrical triangle pattern.

Trade Closed : Closed at a loss of $80.55

Trade should never have taken place.  I need to improve my rational analysis and focus on protecting my money as opposed to making higher risk trades in the hope of making some profit.

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