Week 3 - The Tale of $ECP

This week is another CRAZY week for $ECP.

After it went ceiling after ceiling last Fri Jan 12 2018, today it registered another ceiling candle.

I don't have any $ECP in my real port. I never traded this stock and it's not even in my watchlist at the start of this week. 

I have few reasons why:

1.  I must respect my rule considering my availability when trading such volatile names. Since I have a full-time day job, I must not trade risky/volatile stocks that will require intraday monitoring. In this case, if I have to trade $ECP, I must be in full 100% focus on the intraday movement since this can go up or down in just a matter of minutes.
2.  I must stick to my watchlist and only trade stocks that are at least in 6-month high. I admit $ECP is VERY INTERESTING stock, but for now I'll let it pass and add this in my studies for future references.

Trade dissection of $ECP bounce / ceiling play:

$ECP Daily Chart
Crazy!

1. After $ECP made 3 CRAZY candle moves (ceiling after ceiling), it registered a recent high at 49.90. This can be the swing high for the Fibo plotting (1b) and the swing low is at 11.04 (1a). The long red candle after 1b (01/17/2018 candle) confirmed a retracement/pullback happened for $ECP. But this candle was a strong bearish candle. I'd rather wait for support areas of the Fibo retracements.
2. Today it found a support at 50% Fibo level. It opened at 32.95, registered a low at 30.05 and went up to do the CRAZY ceiling move again.
3. It even broke the high of yesterday (42.80) and closed above it, which signifies that this stock has MOMENTUM.

Now if by chance I ever got to trade this stock. I will monitor it using intraday (3mins chart) below:

$ECP 3min Chart

1. After it bounced at 50% Fibo (30.00) area, the price rallied and even broke out MA100 right away.
2. It stayed above MA100 and formed 3 candle conso before a breakout to continue its move. A breakout at this area can be a good buy.
3. It even respected the high yesterday (w/c is the immediate body resistance in daily) and broke it for another continuation. A breakout at this area was a good buy also.

Now just for educational purposes, I paper-traded it and entered at the breakout of the big box. 😎

$ECP Paper Trade

Let's see how this will react tomorrow.