Was watching BABA heading into the open with the $197 level to hold as resiatnce but just before open it pushed above and gapped up at the open then sold off hard towards $196. I was watching the price action with /ES,$TICK and $ADD. I saw it find little support at $196 but no real resistance on the tape there. I entered just as it broke that level. I gapped down quickly 40 cents then popped back up. It tested my stop at $196.30 but with the other indicators showing weakness i held on. It bounced between 196 and 195.50 for a bit before finally breaking 195.50. I locked my gains due to the slow move as it approached 195.20 which i had marked as potential support. Same as yesterday the other indicators were still dropping but i was happy with my gains and wanted to lock seeing as it tested my stop a couple times.
Entry: C
This wasnt a great high probability trade but i felt i timed it decent for what i was looking for. It did test my stop a couple times but got rejected quickly. Just a mediocre scalp play.
Exit: A
I was ready to exit the trade if my stop mark broke but when i did get the move i wanted i locked as it approached a support line i had. Did good to lock 20%.
Emotions: A
I was patient for the entry on this trying to line up everything with my plan. It wasnt the cleanest but i stayed clear headed ready to close at any point. I didnt feel any hesitation when it approached my stop where i would normally feel slight concern and not wanting to exit holding to my bias. I didnt get greedy either and locked the gains with my desired move.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-04-08 09:50:13 | APR09 20 192.5 PUT | buy | $1.310 | long |
2020-04-08 10:06:42 | APR09 20 192.5 PUT | sell | $1.600 | 0 |
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