Volume in BABA was low as well and it traded high out of the open. Grinding I must say. I had 154.50 as first resistance but ignored it as it was too close to VWAP.
I was patient and placed a limit order at 155.50 that was filled to the penny. BABA respected that level when making a run into it and showed some hesitation to move further.
My first partial was way too early. I took a partial even though I had the full dollar in mind as first target. Took the trade off break-even. Bad call as it was just a retest for a hard reject to reach 154.80 support before making the next leg up.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-11-26 10:02:00 | BABA | sell | $155.480 | short |
2018-11-26 10:03:00 | BABA | buy | $155.300 | short |
2018-11-26 10:05:00 | BABA | buy | $155.480 | 0 |
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