Alert hit as it crossed $227 and headed fast & furious towards R1=$228, level that broke back in June 21, and hasn't revisited since...today!! Leftover bag-holders from higher prices $228+, probably glad to unload.
Very extended in 15min+ timeframes + already >= 1xATR move, provided extra confidence in the trade, despite lack of "typical" technical reversal setup.
Had offer $227.9s, but once I saw the 1st rejection at $277.88, lower offer immediately.
Got short Tier 0 at the 2nd attempt to tag R1=$228, stop $228.6, expecting to reject a move lower, target VWAP.
Played instantly. Covered towards target, in-front of VWAP, flat in-front of $225 pivot.
(+) Excellent trade from thesis to execution to profit taking.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-01-13 11:56:22 | CAT | sell | $227.820 | short |
2022-01-13 11:56:26 | CAT | sell | $227.820 | short |
2022-01-13 12:14:20 | CAT | buy | $226.520 | short |
2022-01-13 12:15:21 | CAT | buy | $226.110 | short |
2022-01-13 12:20:50 | CAT | buy | $225.260 | 0 |
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