I really like what I did with this trade. I went into today's trading day with a plan then from there knowing what I knew about the levels on this stock, all I needed to do was execute.
I knew 81.30 was a level, I knew 81.80 was a level and I knew that there could be trouble around 82.40's. Because I traded this around those levels earlier this month. I lost money on that trade but I learned some lessons. I knew LULU had trouble closing above 81.30~. I knew the day that it broke through 81.80 it hit a wall around 82.40. Why? Because I was long, added through 80's then when it failed against 82.40 it never looked back and I was subsequently stopped out the following days.
Fast forward to today, a week or two of consolidation later, the same levels were in play. It just all happened to happen this morning. I wasn't going to mess around this time. I was going to sell some into the .40's and then more when it couldn't re-test the highs. Now i'm just sitting in a small core and letting it whipsaw around which eventually stopped me out.
Here's a link to a deeper look at LULU.
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