After the Close we watched video of HRB (H&R Block).   16 was a huge level on our longer term charts.  And HRB found this level.   And a few interesting questions were raised during our Tradecast.  One was: would you buy before you saw strength on the tape at 16 or would you just buy?

There is no right answer to this question.  The answer lies with you.   If you are an aggressive trader then when a stock finds an important support level you ought to buy.   And buy almost every time so your results are consistent.   If you are more cautious then you might wait for confirmation on the tape before entering.  For me I am piecing into a position as HRB trades near 16.   I am an aggressive trader.

Later during our TradeCast Noob Sean asked whether we ought to short when an offer was holding 16.   For me this was not a short.  Perhaps for Sean it was.   I thought this was a failed breakdown below 16.   For me the play was buy 1/2 a lot when 15.92 dropped and allowed for a new intraday low, but then rebid instantly.   And then wait for the 16 offer to lift to increase my position to 1.5 lots, waiting to add size at higher levels, and treating this as a Trade2Hold.   For Noob Sean maybe this was a play both sides (short below 16, long flip above 16) near the 16.   It is entirely up to you.

There are market principles that must be followed however.   And as long as you respect these market principles and then seek to make trades your own that is fine.   For example, shorting strong stocks and buying weak stocks is not a good idea.  We are all wired differently.   We all have different levels of experience, tolerances for risk, buying power, trading skill, etc.   Our trades must make sense to us.

Best of luck with your trading!