RIMM currently sits under $58, which looks to have turned Support into Resistance (SbR).
POT rallied this morning up to a previous level of resistance. This impulse move registered a higher momentum high compared to a lower high in price (Slingshot setup/Hidden Divergence).
Indicated on the chart below is the entry and exits taken on this trade (down arrow with small horizontal lines). The ellipses on the 3/10 oscillator highlight patterns to look for as entry potential. The first ellipse shows how the fast line falls under the slow line and corrects into it at the highs of the day, leading to a correction off of the trendline on a momentum divergence. Of course by the time the oscillator registers a confirmed correction the move may already be too far gone. So, I looked to put an order in under the pivot which would confirm a bear flag breakdown (after all, these pullbacks in the 3/10 just highlight flag patterns).
Also highlighted on this chart is a bullish Wolfe Wave setup that occurred. Unfortunately, when I put my order in to go long price ran away from me. The buy divergence lent confidence to the entry, while vwap gave some confidence for the target line.
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