Shared by
boldandnuts
BABA rejected 150 as a significant level and showed some orders sitting there. I took a stab, but I dont know why just 25 shares :-/ I had planned to scale in in case the level broke so I guess it was ok until I have my account up a bit to increase my overall position size.
Took off half at the half dollar. Good decision!.
BABA broke out to the upside again and tested 150.50 and rejected it. It made attempts higher but rejected. When I thought it would break down I added on the break of the low of the previous candle. A little early as it was no clear decision-candle.
It was a fakeout to the downside that trapped me, but I held onto it. I missed to add size when BABA turned weak and sold off after a clear reject and formed decision candle.
Would have been a good place to add size. But again I was too cautious as this would be my last trade for the day and it was already almost 11am.
Did good on taking profits!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-10-09 10:28:00 | BABA | sell | $149.960 | short |
| 2018-10-09 10:31:00 | BABA | buy | $149.550 | short |
| 2018-10-09 10:47:00 | BABA | sell | $150.270 | short |
| 2018-10-09 10:52:00 | BABA | buy | $149.700 | short |
| 2018-10-09 10:57:00 | BABA | buy | $148.920 | short |
| 2018-10-09 10:59:00 | BABA | buy | $148.590 | 0 |
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