BABA tested the intraday support and I thought it might put in a higher low to respect that level.
As I saw buying and a hesitation of lower prices I placed an order at 139.
When BABA looked weak and the offer broke 139 again I took off the trade for a small loss.
I kept watching it!
BABA was really hesitant and I had 138.50 as a more important level on map. BABA spiked lower, tested it but was bought up immediately. On the next retest I gave it another shot with a stop below 138.50.
Worked out well and my profits were good. I did not know whether we would go much further and took off a bit above 139 to at least cover the commissions.
Called it a day after this trade as I was green and reached my 30 executions for the day
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-10-11 10:21:00 | BABA | buy | $139.000 | long |
2018-10-11 10:22:00 | BABA | sell | $138.950 | 0 |
2018-10-11 10:26:00 | BABA | buy | $138.690 | long |
2018-10-11 10:28:00 | BABA | sell | $139.150 | long |
2018-10-11 10:30:00 | BABA | sell | $139.950 | long |
2018-10-11 10:33:00 | BABA | sell | $139.740 | 0 |
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