$ATAI Morning Pop Grind

Identify The Trade

$ATAI ran up fast in just a couple of minutes and caught my attention right after the market open. This stock has a history of good moves intra-day so I was interested in taking a position.

Choose The Strategy

My strategy for this trade was using the initial high as my risk level and to enter the trade when the lower high was made after the peak. Then with any luck, the stock should fade into the darkness whence it came.

Setup, Entry and Exit

Execute The Trade

When I saw $ATAI start to move back up, I got an early entry against the previous peak level and then waited for it to reach my exit targets. When $ATAI tried to go back further down below $2.40 it rejected and moved back up higher. As soon as my entry price was hit I exited the position. Not following my strategy of getting out at my risk point, but in this situation that worked out in my favor.