These are my notes on my closed position with Avino Silver & Gold Mines (ASM).
Brief notes about my entry
- Opened without stop-loss
- Willing to take the risk of going to zero
- Market context was full of fear and uncertainty surrounding interest rates and Trump’s economic policies
- Gap pattern
- Bearish gap zone serves as a resistance zone
- Stock gapped-up twice during extended holiday week-end
- 1st gap (overnight) during Friday’s shortened trading day
- 2nd gap (weekend) during Monday’s pre-market
- My intuition suggested if the market went down, it would try to fill the gap
Today, the market…
- Gapped up after two days of steady price increases
- Holiday week-end gap
- Cup-and-handle pattern
I forgot to…
- Check the 1-day, 1-minute chart for pre-market levels
- Price broke previous-day high-top
- Price re-touched pre-market low which became a resistance level
After exiting the position…
- I noticed a head-and-shoulder pattern on the 1-month time-frame, 30-minute interval chart
- Risk level seems to be increasing
- Could be temporary due to FOMC dot plot
- Risk level seems to be increasing
