Alert hit as it broke R1=major multi-week resistance level=$204, that opens door to R2=daily resistance level + desc. resistance line est. from ATHs=$209-210. Break and hold above R2, then R3=top of channel=$236.
Didn't give any calculated long entry to play the move from R1=$204 up to R2=$210, straight up, so I sat tight. I placed bids for a Tier 0 size closer to $204-205 just in-case...
Rolled over and as I was getting filled, risking 1% of price below R1, market got hit due to Washigton DC news.
Stop triggered and I took the papercut loss.
A bit unfortunate since next day TDOC gapped above R2=$209-210 and exploded right to R3=top of channel=$236 for a +10%!! Trying to bid $209-212 never stood a chance so I stayed w/o position here...
Can't win them all. At least I was in the right name:/
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-06 14:16:47 | TDOC | buy | $205.110 | long |
2021-01-06 14:25:04 | TDOC | buy | $204.110 | long |
2021-01-06 14:37:57 | TDOC | sell | $202.160 | 0 |
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