I saw BABA grind higher and get close to the pivot I had at 153.50 with the SMA100.
Above 153 BABA showed a RSI above 90 and considering the big move it already made and showing some hesitation already I took a starter to stick with it and wait for reaction.
I was too early, but was fine with my entry. It never hit the pivot, but reversed and rejected below.
Stuck with it and let it play out with 152.50 as first target.
Took my partial way too early instead of waiting for the EMA9 on 5 to hit. Eventually took it off just moments before the DROP. As usual. My half dollar target was hit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-09 13:20:00 | BABA | sell | $153.140 | short |
2019-01-09 13:31:00 | BABA | buy | $152.810 | short |
2019-01-09 14:01:00 | BABA | buy | $153.070 | 0 |
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