This chart is zoomed in to show today's candle. As mentioned in yesterday's video, I had a buy stop limit order sitting at 7.26. Would you believe today's price action had a high of 7.25? It's true. One more penny and all 3 lots of 100 shares each would have been bought. But none were.
You can see price broke out modestly to the upside, but not enthusiastically. I was conflicted because if this breakout is going to continue upward tomorrow, then I want to enter today in case there's a gap up. On the other hand, the candle can pull back to the trend line, or below, at the last minute right before today's close, which would mean we may not have a breakout at all, and we could see a retrace downward tomorrow, in which case, I don't want to be long yet. Also, notice how little volume there was today. This introduces doubt as to the validity of the trend line break. However, yesterday's candle combined with the candle before it form a Bullish Harami pattern, and yesterday closed above the 8ema. This adds confidence the break out is genuine.
So, I decided to wait until 1-2 minutes before the close at 4pm ET and see where price was at. If it looked like we'd close with price clearly above the trend line then I'd get 1 of the 3 lots and leave the buy stop limit on for tomorrow for the other 2, thereby reducing my risk but still have a toe in the water in case AMPY rockets up tomorrow.
As you can see on the chart today's candle did close above the trend line so I changed the buy stop limit order to a limit order at the Ask price and got 100 shares at 7.19 at 3:58:21 ET. I picked the lot with the lowest target price, which is 7.86, and the stop for all 3 lots is 6.75.
We'll see if this was a good idea or a mistake tomorrow.
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