Not the best trade, but great entry. When BABA looked strong I took half a tier for the break of 148, but was a bit too early. I did not wait for the offer to actually lift, but entered when I saw the Bid come closer to the offer, narrowing. Bid retested .95 before narrowing again and the offer finally lifting.
First target was a great call. Watched the tape closely and hit the high.
Expected BABA to pull back and retest 148.
Unfortunately BABA was just weak and dropped through it like a stone. I could have either taken a loss or stick with it. What I did. Watched it at VWAP when it held, but did not re-add for whatever reason. Lightened up as I found it plausible a retest of 148 might get sold. BABA broke through and I took rest off above .50 when it looke extended. BABA made another leg up though...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-12-14 10:03:00 | BABA | buy | $148.000 | long |
2018-12-14 10:04:00 | BABA | sell | $148.320 | long |
2018-12-14 10:17:00 | BABA | sell | $148.010 | long |
2018-12-14 10:21:00 | BABA | sell | $148.600 | 0 |
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