$AAPL gapped down after Earnings below that important 215 level and found support around 205. Another important level of support.
My levels for support in $AAPL were 208.50 with its SMA100 and 205 and a short bias below that. Above I had 212 215 then 216 and 218 with its EMAs for resistance.
$AAPL opened in between the levels and broke out at the open above 210. I watched it and started a short at 212.50 to add more on its way to 215 for a reversal down to VWAP.
I kept size small as it is $AAPL and, out of experience, was likely to take a loss on this trade.
When $AAPL rejected 213.50 I added another piece on its way lower for an average of 212.81 and a first target of 212 and VWAP at 211.
My first target was not hit and the support of 212.50 held. $AAPL made another run into and just above 213.50 when I thought of the possibility of a Backside-Trade where I would add another partial.
That didn't happen. $AAPL sold off rather hard and I took partials at 212, VWAP 211.50 and on the spike below 211 to eventually take off the rest on the crack of 211.30 resistance.
Too early and I could have given it more room to run. As it is AAPL though I wanted to just lock in my profit. Good Trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-11-02 09:39:00 | AAPL | sell | $212.420 | short |
2018-11-02 09:41:00 | AAPL | sell | $213.190 | short |
2018-11-02 09:48:00 | AAPL | buy | $212.070 | short |
2018-11-02 09:49:00 | AAPL | buy | $211.510 | short |
2018-11-02 09:50:00 | AAPL | buy | $210.940 | short |
2018-11-02 09:53:00 | AAPL | buy | $211.370 | 0 |
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