Update: I cancelled my order fill before price got there.
Why?
Because retail sentiment has shifted. The bubble popped and is headed towards the strong Buy Zone.
We don't know what will happen but this got me out of a potentially losing trade before the trade ever took place. I want as many stars as possible to be aligned in my trades.
By having a limit order that wasn't hit and monitoring the change in sentiment - I can make informed decisions about if the trade is still valid before it actually triggers.
A Market order would not have given me that opportunity.
If I wasn't monitoring sentiment then I would also not have the opportunity to cancel if circumstances change like they did.
Here is the current sentiment snapshot.
Why?
Because retail sentiment has shifted. The bubble popped and is headed towards the strong Buy Zone.
We don't know what will happen but this got me out of a potentially losing trade before the trade ever took place. I want as many stars as possible to be aligned in my trades.
By having a limit order that wasn't hit and monitoring the change in sentiment - I can make informed decisions about if the trade is still valid before it actually triggers.
A Market order would not have given me that opportunity.
If I wasn't monitoring sentiment then I would also not have the opportunity to cancel if circumstances change like they did.
Here is the current sentiment snapshot.