I am going to call this an opening range support play which may be a better name than gap reversal when it is started this far after the open. The tape was holding 241.80 well. I decided to take a lot because the 241.25 support was within range on my risk even though I set the stop at 241.49 and could have been bigger in this trade. However, there was no longer term support than the opening range and the tape. I should have trailed the stop to squeeze little more out of the trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-11 10:20:05 | COST | buy | $241.830 | long |
2019-04-11 10:44:47 | COST | sell | $242.680 | 0 |
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