Everyone is chasing $LUMIA today. I am sitting this one out
Volume just hit $20.5M which is 42.1x the normal seven day average
That sounds great until you look at the hourly ATR sitting at 9.9 percent of price meaning routine noise will wipe out any tight stop
Most of the easy move is already gone since $LUMIA is up 37.1 percent in twenty four hours
Here is what changes my mind
An hourly close and hold above $0.13940
Or a pullback that holds $0.08000 and bounces
It could keep running without you and a bad entry costs more than a missed move
Chasing $LUMIA here, or waiting for $0.08000?
#LUMIA #RiskManagement
Volume just hit $20.5M which is 42.1x the normal seven day average
That sounds great until you look at the hourly ATR sitting at 9.9 percent of price meaning routine noise will wipe out any tight stop
Most of the easy move is already gone since $LUMIA is up 37.1 percent in twenty four hours
Here is what changes my mind
An hourly close and hold above $0.13940
Or a pullback that holds $0.08000 and bounces
It could keep running without you and a bad entry costs more than a missed move
Chasing $LUMIA here, or waiting for $0.08000?
#LUMIA #RiskManagement