Viacom was on my list but spent most of the morning faffing around on (relatively) low volume doing nothing very interesting at all. Then, just as I was about to call it a day, this happened:
Volume and momentum picked up, and we were off to the races. The downside to this late trade is that I had to work past midday, which is rarely a winning situation. The upside was more than a thousand dollars profit on the trade. So there is that.
There were smaller trades to be had as well. Here’s one such example
Another relatively late trade for me. And one that broke the rules. What is it they say about rules? Something about having to know them so you know when to break them. Strictly speaking, although this was a late trade in terms of the hour, it was an early entry. But the support and the triangle and the price action all conspired to suggest that there was little to be risked by getting in early on this one. Just as well too, because waiting for the ‘correct’ entry would have made this already modest win even more modest.