BABA Trade on Jun 5, 2015 10:43 from camilogomez38: Tradervue User Stock Trades.

91.30 - 91.50 have been a resistance area lately. As I do not see the spiders wanting to rally, a resistance play was applicable.

I waited for the price to tell me when to get in, as I know this can also break rapidly to the upside (also behavior this time has been more constructive than prior failures at this area, plus Chinese stocks are behaving well today), so a tight stop is good.

I shorted at 91.46 once I saw a big red bar. My stop was 1 cent above the highest sale (91.61) for an initial 15 cents risk.

It quickly went 40 cents below, so I saw the play had potential to work, so I shorted another lot on a retest of 91.40. I covered half once my initial risk of 15-20 cents was covered (91.24). (My adjusted risk was 30 cent at the same 91.61 which coincide with my maximum risk per play).

My target was 90.80, it did not quite hit so I covered once downtrend was broken on 2 min chart.

I will review at the end of the day.