Shared by
boldandnuts
Support Play in $BABA at The Open
$BABA also gapped up over night and found support at its $150 level. Out of the open it chopped around it and tested below. When $BABA sold off out of the Open and it looked like it would make a higher low I gave it shot with a starter at the support level.
I did not know what the market would do and took a quick profit at 150.50 and on the spike above 151$ to stick with the rest.
$BABA had absolutely no direction and chopped around. It broke below 150 and I took the last piece eventually. Good call. Just chop.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-11-07 09:30:00 | BABA | buy | $150.050 | long |
| 2018-11-07 09:31:00 | BABA | sell | $151.070 | long |
| 2018-11-07 09:31:00 | BABA | sell | $150.500 | long |
| 2018-11-07 09:51:00 | BABA | sell | $150.144 | 0 |
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