12/2/21

Fail.

Went in after the first green candle that closed above the 50EMA. Or rather, I went in the next day. 

Probably should have given it another day so that I could see the bearish engulfing?

Failed to get confirmation by looking to the weekly. Not breaking out on the weekly. Only on the daily. 

Didn't want for confirmation on the daily either. Sure, I got the break above, an open and close above the 50EMA. But I didn't get a rejection of the 50EMA. If I waited for that, then I would have seen the bearish engulfing. 

No setup either (bull flag, cup and handle, etc.). 

Negative divergence. Bad sign. 

Risk reward ratio, 1:3. 

I guess I could have confirmed volume too. Volume fell. 

Catalyst was weak too. Potential government contract.