20.00 has been an important level in AMD for a while, going back to at least November. I spotted a LARGE seller on the level 2 at 20, and it was wedging higher. This is a playbook trade of mine, called the Wall (Street) big offer setup. I took it long as the bid began to decrement, and adjusted stop to break even once it held above 20 cleanly. I took partials on the way up, and emotionally sold the rest instead of putting a stop at breakeven and letting this work.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-07 10:52:32 | AMD | buy | $20.000 | long |
2019-01-07 11:02:02 | AMD | sell | $20.160 | long |
2019-01-07 11:05:02 | AMD | sell | $20.230 | long |
2019-01-07 11:07:50 | AMD | sell | $20.210 | 0 |
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good job spotting the level 2