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I used my three main time frames: half-day, 2 day and weekly. Schaff Trend Cycle (STC 14/26/50/0.5) was good on all three, 2-day went up on mid-September while the Weekly STC followed at the beginning of October. All three time frames ad green Heikin-Ashi above EMA22. It was easy to visualize an up trend on all three. The Dow Theory supported my bullish outlook. Great, looks like at $1.70 it was picking up and I was considering the purchase.
On Thursday, November 14th, using a very popular stock app I bought $RGTI at $1.55.
I set my loss limit to $1.33 (-14%) and my profit gain to $1.99 (+28%). That's the rule of thumb: profit/loss = 2. The Loss band was calculated using ATR (Average True Range 14 periods, RMA 1.5, ohlc4)
in the half day time frame. TradingView was my tool for technical analysis.
I potentially lost money on the following two days. On day 3 the loss passed my limit reaching -17%.
I firmly held. Day 4 was even. Day 5 started the recovering, closing in a green Heikin-Ashi at $1.47.
Position still showing loss. Day 6 reached $1.85 and closed at $1.70. That was Friday, November 22nd.
It is now Monday November 25th, Day 7. At 7 AM PST $RGTI reached $3.37, I just can't believe it! One hour later around 8 AM PST it started moving down. It was 9 AM PST when I could not hold it any longer and I finally sold $RGTI for $2.88 or 87% profit. This welcomed short-term capital gain is now part of my income. It was probably the best 7-day swing trade I had so far. I wish I had sold my car and invested all cash in $RGTI. Wait, what?
