Strong open and almost 1xATR move right into major resistance=bottom boundary of recent multi-month long channel=$337.
With such extention in-front of such level, no brainer short.
Got short Tier 0, risking a bit wide stop initially $341, as this thing doesn't trade well (choppy, wide spreads, not easy to trade based on past experience), expecting to roll-over, lose VWAP and trade back towards opening print.
Held way better than expected in-front of $337s, and I started playing defence tightening stop closer to $337. However, after 3rd failed attempt to break higher, w/o even being able to tag the level,
added another tier and tightened stop to $338.1 for whole size, expecting complete roll-over.
Covered below VWAP, some unfortunately before the dump, bulk in-front of opening print.
Got flat closer to the bell, even though close warrantied a small trailer overnight.
(-) 2/4 are not good exits. I could do better than that if I was paying a bit more attention!!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-03-14 09:51:30 | MA | sell | $336.160 | short |
2022-03-14 10:55:16 | MA | sell | $335.690 | short |
2022-03-14 12:30:01 | MA | buy | $332.290 | short |
2022-03-14 13:18:24 | MA | buy | $331.950 | short |
2022-03-14 13:39:29 | MA | buy | $329.110 | short |
2022-03-14 15:03:39 | MA | buy | $331.030 | 0 |
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