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Daily Dose

02/19/2021 22:15

Trying something a little different today, you guys can let me know if you like this method of educating. I’m going to walk you through a potential play that could’ve been made on 2/16/2021, ticker: SCKT.

Steadily gained from AH into PM/top watch moving into the day/had news/low float (4.68M)/solid volume/opened around $10.3 (hasn’t seen those levels since 2008)/decent day chart leading up to the move. Had an initial run out of open then slowly fell under vwap, watched for the vwap break around 10:45, tested, failed once, retested (11:03), broke (over). (It’s important to know not to instantly jump in on a vwap break. You need it to hold/test. There are times that it will break and run, at that time other strategies are applied). As you can see in picture one, the green circle represents the vwap hold/tests after the initial break. Potential buys (longs) are made here with risk (SL) under vwap (red line/past support level). Watching Level 2/T&Ss is also key in this area. We get the clean run to $26.23 (picture 2), however we can see the RSI is showing bearish divergence (making lower highs as the chart makes higher highs). After hitting $26.23 we get our first pull back following the initial run. Some will take profits here, others may wait to see if it retests hod (high of day) and in this case it tries but ultimately fails (for now). Practically double tops and we get that long bearish candle on the minute chart. Most would take profits in this area (red circle) after failing to break hod. Even though SCKT ran to $35, solid profits were/could’ve been made on this play. This is a great example of a vwap play, many traders use vwap as an indicator and with that said, many use it to play off of. Let me know if you guys find this beneficial, if so I’ll do more like it.

We are here to help, it’s that simple. If you feel like joining our community of over 700 members, feel free to reach out to me @Daily_Dose_Trading on Telegram (free). I can add you to our chat which includes our alerts (free). If you found this post informative repost it for other to see and give it a like. Thank you all and stay green friends!

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Disclaimer: The comments, opinions and analysis expressed herein are for informational and educational purposes only and shoulk not be considered as individual investment advice or recommendations. Webull is not responsible or liable in any way for comments posted by pur users.

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All Comments(10)

Great_Stonks!!02/22/2021 04:52
I like it, thanks.

Daily Dose02/22/2021 11:01

You bet!

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digital pharaoh02/20/2021 13:18
this is pretty amazing info , I'm already learning so much about these processes thank you😊

Daily Dose02/20/2021 13:33

Love it!

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Barfboogerfart02/20/2021 06:44
Love that hindsight.

Daily Dose02/20/2021 13:33

Thanks!

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ct1***com02/20/2021 05:32
Truly appreciate your "class"! Learning SO
much!! Thanks a TON!!

Daily Dose02/20/2021 13:33

Thank you!!!

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BullOnParade202102/19/2021 22:33
i appreciate all of your wisdom. Thanks so much

Daily Dose02/19/2021 22:34

Hey no problem!

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aye***com02/19/2021 22:22
that's great info for me, I'm new to trading and always in need of trader tutorials . Thank you for this jewel🥂

Daily Dose02/19/2021 22:24

You bet, feel free to join us on Telegram!

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WDYWFL02/19/2021 22:20
I have a Question about Tops
It seems to go high during the day and when it comes to close it drops

lif***com02/20/2021 15:38

how do I add you on telegram? I just downloaded it and have never used it before

Daily Dose02/19/2021 22:25

Taking profits at close typically. Add me on Telegram and we can talk a little more about it! Hope this info helped!

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chr***com02/19/2021 22:19
Marry me

RawlsRoyce02/19/2021 22:22

😂😂

GapperstocksLLC02/19/2021 22:21

Hes taken

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