Shared by
redartporp
Shorted as it failed to get over $16.25-.30 lvl. Covered a bit into the whole and the rest under. Scalp.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-06-22 10:48:30 | RXDX | sell | $16.210 | short |
| 2015-06-22 10:48:50 | RXDX | sell | $16.100 | short |
| 2015-06-22 10:49:37 | RXDX | sell | $16.200 | short |
| 2015-06-22 10:53:06 | RXDX | buy | $16.060 | short |
| 2015-06-22 10:53:50 | RXDX | buy | $16.120 | short |
| 2015-06-22 10:55:18 | RXDX | buy | $15.800 | short |
| 2015-06-22 10:55:56 | RXDX | buy | $15.900 | 0 |
Comments
redartporp
Well, I don't trade charts I trade price action/the tape. After the drop I noticed a seller at the $16.25 and $16.30 levels. I shorted $16.18 avg knowing I had some protection at those previously mentioned levels. I could have gotten a better entry if I was more patient, but the risk/reward was still in my favor on this setup as I was only risking 10-13 cents on a relatively small position size. This had potential for a fade to $15 (next support area), but my target was $15.50. I ended up taking some off the table in the .80s then got impatient and covered the remaining position in the .90s.
JDN6832_BOWS
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I know this worked but that was a huge drop to get short when you did. I don't even see why you took it to be honest.