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Shared by
boldandnuts

 

JNJ

Dec 19, 2018 10:55


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Resistance Play Good Entry Full Dollar Early Exit Backside Trade

I saw JNJ struggle above 131 and watched it as it was grinding along. When it formed a double top and sold off to below 131 I watched it for a retest for a backside trade and took a stab around 131. As the market was quiet and I did not see much action I took it break-even. Did not want to get stuck in a trade with 132.50 being next level above.


Execution detail:

Date/time Symbol Side Price Position
2018-12-19 10:55:00 JNJ sell $131.060 short
2018-12-19 10:57:00 JNJ buy $131.080 0


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