This opening drive was all about the tape.
224.20 was FB's all time highs and the stock has gapped up over it in premarket.
Premarket trading was liquid and had higher RVOL.
The opening minute we saw a push right thru 224.20, by the 3rd minute, the pull back came and the tape showed that 224 was holding. That's when my conviction came. (If it was gonna fail, it would have failed right then and there on the double pin bar tops.)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-05-20 09:33:31 | FB | buy | $224.060 | long |
2020-05-20 09:35:54 | FB | sell | $225.360 | long |
2020-05-20 09:39:26 | FB | sell | $225.610 | long |
2020-05-20 09:43:03 | FB | sell | $226.230 | long |
2020-05-20 09:52:07 | FB | sell | $225.820 | 0 |
2020-05-20 10:36:47 | FB | buy | $227.770 | long |
2020-05-20 10:38:25 | FB | sell | $227.370 | long |
2020-05-20 10:39:19 | FB | buy | $227.630 | long |
2020-05-20 10:39:38 | FB | buy | $227.550 | long |
2020-05-20 10:40:20 | FB | sell | $227.680 | long |
2020-05-20 11:19:48 | FB | sell | $228.920 | long |
2020-05-20 11:23:10 | FB | sell | $229.320 | 0 |
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