OCN long LOSS

A very poor trade after not trading for a week or so, felt kind of like I "should" trade as it looked like market was oversold, so time to get in. Sort of a T30/TAZ trade though looking back perhaps the support wasn't so great.
Also, on entry, stupidly undercalculated risk amount and didn't realize until right after.

Lesson? Be especially mindful after not trading for a while. Never enter long on a break up - wait for pull back. Wait for strength in overall market before entering long?