Identify The Trade
$ARCI caught my attention pre-market as it was moving a little bit but with almost no volume. When it spiked up hard at the market open I kept my eye on it for a possible trade.
Choose The Strategy
The strategy for this trade was to use the whole and half dollar resistance levels and see how much volume comes into the stock. This was a higher risk trade since it was just a random pop-up, probably a chatroom pump.
Execute The Trade
With very little volume coming in, I took a stab against the $1.50 risk level and let things pan-out. This trade didn't have a good Risk:Reward ration, so when I saw a plunge early on not long after my entry, I took the exit and didn't look back.