$BLIN Pops For Tricks

Identify The Trade

$BLIN is was on my radar premarket, but when the market opened and it really started moving, that was when I really wanted to get a position. This is a previous mover that has a lot of potential for a good trade.

Choose The Strategy

The strategy for this trade was to see where it peaks out, probably at psychological dollar and half dollar marks and to take positions against those resistance levels.

Setup, Entry and Exit

Execute The Trade

I got my entry at $1.40 against a $1.50 risk level which was solid, but as the flag played out I decided to double down, only to watch the flag turn into a bull-flag and zoom higher, meaning I needed to close the position as my risk level was breached. So I re-entered at this higher price with two entries and then watched $BLIN breakdown pretty hard. I didn't play by the rules, but again I got lucky and had a decent gain by doubling down right before the breakdown.