I got stopped out at $44.45 on January 11, 2023. Since then, it’s gone nowhere and today closed at $43.04. In retrospect, this was a bad trade. It was a faulty setup for a power play because the price was ascending after the big move up, not descending. A descending price would show good absorption of the previous move.
I got stopped out but could have gotten out earlier. The signs were subtle, but right after I bought is squatted pretty bad closing at the low of that day, and the RS started declining. I should have never taken the trade. It is important that the price descends some after a big move, to absorb the sudden move up. That was an important lesson to have learned, and that stops are your friend.
