I watched BABA as it grinded higher and put in a decent move waiting for an opportunity for a Top Reversal.
I had 150 down for Resistance, but when I saw it move above 149 and missing the Decision-Candle I thought I could use a retest of its lows for a backside trade entry. Placed my offer, was filled, but BABA continued higher.
I had planned to add more towards 150 but 149.50 was respected.
Stuck with my position and was disciplined. Really could have added at the half dollar in hindsight, but it was too close to my previous add.
Took off the trade and found a clean exit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-14 11:01:00 | BABA | sell | $149.160 | short |
2019-01-14 11:18:00 | BABA | buy | $148.860 | short |
2019-01-14 11:30:00 | BABA | buy | $148.890 | 0 |
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