Mar. 12 at 7:40 PM
Lesson in: Trust your instincts
Months ago i had super scanned the market, before we had come out with the idea for Trade Tracs platform, and had stumbled across the Electric Utilities sector.
Found a couple cute names, nothing to exciting. However, being a fan of "Longer the base higher the break" I was intrigued by
$FE
It displayed not only a multi-year wedge, but a beautiful post earnings horizontal base right outside of this wedge resistance.
I took the break for some mere shmeckles, stopped prior to the next earnings.
Thought the trade was done. However, i failed to keep my promise to review my post trade list on a bi-weekly basis.
Because of that, i lacked on consistency , and even though my thesis of a true stage 2 breakout was correct, i had my eyes elsewhere.
Beautiful retrace entry, set up for a great second trade. Lesson to be learned: never let a winning name be one and done. It may have more, MUCH more to give.
Learn, adapt, profit.
That's what we do at Trade-Tracs™️
