Time Frame: 5 minute
What's up guys, in today's post I want to go over the first 2 strategies that I posted a couple of days ago. After a bloody market day yesterday today we received a great supernova play. GLYC came out with positive news pre-market which caused it to make a 100% run today. At market open it ran to $8.65 and crashed. Less than an hour later volume increased and GLYC went for the resistance break. A perfect entry for the break would be 1-3 cents higher than the resistance line. On the 5min chart it was bouncing perfectly off the 9sma that was causing it to make new highs. The main reason other than news that caused it to run is the short squeeze. Many traders felt that this was going to be a pump and come down due to yesterday's red day however the shorts got squeezed. This allowed the momentum to continue. There were many opportunities to get in on multiple 9sma bounces. Hopefully you guys profited on this trade today. It was alerted by multiple members throughout the morning. Hopefully some of you even used my strategies to bank of this play. If you have any questions on how to use the strategies then send me a private message.