Alert hit when it pushed thru $310 approaching R1=$311-312 area.
R1=$311-312 was a multi-week support level/inflection point (back from October 20) which had been defended many times and broke only recently as QQQs got hit. I suspect many longs trapped/bagholding at higher prices > R1.
Got short filler size at the extention to R1=$311, risking wide stop $315, added Tier 0 at the lower high, bringing stop for the position to HOD=$311.5, expecting a VWAP retest at a minimum.
Covered half at target, held rest in case it flushed lower. It didn't so I got flat before close.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-10 14:50:34 | LULU | sell | $310.880 | short |
2021-03-10 15:17:17 | LULU | sell | $309.890 | short |
2021-03-10 15:31:58 | LULU | buy | $307.250 | short |
2021-03-10 15:59:58 | LULU | buy | $309.035 | 0 |
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