Day 37 Trading with Ricky

Symbol: ENVB

Type: LONG

Outcome: WIN

Market Hours: EXT

News (at that moment): YES; The Pharmaceutical Application Term Sheet Provides Enveric Biosciences Could Be Eligible To Receive Future Development And Sales Milestone Payments That In Total Could Add Up To Approximately $61M

Stuck to Rules: YES

Review: This trade carried considerable risk owing to the minimal volume signaled by the RG Dominator Master indicator. The traded volume was roughly half the magnitude of the preceding bar. Despite this, I entered the trade prompted by the extended lower wick on the candle, suggesting buying strength. While I managed to secure a modest breakthrough, I promptly sold, recognizing the elevated risk involved. Subsequently, the stock experienced an uptick in volume and pushed the price slightly higher, likely fueled by positive news.

Lesson Learned: Price and volume drives price....and the candles tell that story.n strong volume flow.