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Jan 8, 2019 09:34


Resistance Play Pivot Half Dollar Good Entry Early Exit

FB broke out right at The Open. For resistance I had 142.50 as a pivot and 145-147 above that.

As the move was so strong I expected some sort of pullback and placed an offer just below 142.50.

There was a reaction, but it looked more like a consolidation. As i did not know what the market in general would do by that time, rally or drop, I stuck with it for a moment.

Eventually I took off the trade break-even to not risk another run to 145 and approach that level with a clear mind.

Trade eventually worked out as the market corrected.

Execution detail:

Date/time Symbol Side Price Position
2019-01-08 09:34:00 FB sell $142.450 short
2019-01-08 09:40:00 FB buy $142.280 short
2019-01-08 09:46:00 FB buy $142.460 0

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