With the premarket high made and a fade already occuring I was looking for a morning spike that I could short into, risking against premarket highs and a fade I could exit out of.
The strategy for trading $STAF was to use the premarket high and any breakout with whole and half dollar point as resistance. If I could get a good short entry against one of those resistance points, my stop price would…
I was looking at the premarket highs to take a short position against, but since there was no real resistance there, I decided to use the whole dollar level for a short against $4.
Once this stock made it to or over premarket highs I was very interested to take a trade at a lower-low. So I was looking for $XBIO to make its high and then to catch the trend downward.