Read price action on 2 consecutive (10:20am & 10:25am) 5-minute candles wicking down to prior day's low as support, took the entry on beginning of price rise on overall down day. Took 1/2 partial just below 1st target of ~ $21; held remainder for further push w/ stop revised to BE. Brief wick on 1-minute @ 10:36am immediately after partial sale, down to ~ $120.10, was a flashing red warning. Gratefully didn't hold down, as it would have made 2nd 1/2 of position negative & given back from realized. Didn't like that $121 was rejected twice & consolidation pattern emerged (TTM squeeze indicator). Bailed on remainder with narrow (~ 10 cent / share) profit. In retrospect, would have been better on choppy day ahead of Fed minutes to sell full position. In any case, managed to take pretty much the full extent of one of the only momentary upward price reversals on the issue. Pleased with trade due to good reads on the price action and level 2.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-01-28 10:30:26 | BYND | buy | $120.370 | long |
2020-01-28 10:35:08 | BYND | sell | $120.986 | long |
2020-01-28 10:37:00 | BYND | sell | $120.463 | 0 |
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