PLAY: BREAKOUT
KEY LEVEL: 80
Did I follow my stop loss rules? Yes, momentum died, so I got out.
Entry(Notes): Seemed to have found temporary support, so I took these contracts anticipating a break of 80.
Exit(Notes): Hard hard resistance. Good breakouts happen quick, and with strength. This was a good example of clear sellers at the 80 wall. Yes, a few minutes later, the seller decided to lift 80's, but then immediately hammered the stock back down, trapping the 80 breakout buyers. Knowing me, I might have even bag held this stock if I took the 80 breakout buy.
Chart:
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-04-14 09:59:07 | APR16 21 80 CALL | buy | $2.300 | long |
2021-04-14 10:00:13 | APR16 21 80 CALL | buy | $2.300 | long |
2021-04-14 10:04:06 | APR16 21 80 CALL | sell | $2.100 | 0 |
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