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Shared by
boldandnuts

 

JWN

Jan 16, 2019 09:30


Tags:

The Open Resistance Play Good Partial Good Exit Good Entry

JWN gapped down over night and I am not sure for what reason. Earnings, but can't recall.

However, I had 43.70 as a previous low and 44.60 also down for resistance above.

At the Open I used the 43.70 level for a starter and it spiked against me into 44.

It rejected and eventually traded down to 43 where I took a partial, but hoped for a roll over.

Should have taken it off. As it was just small size I let it play out to add to it around 44.60. Which I enden up NOT doing. Even thought there was a nice backside consolidation and it really looked like it would roll over.

When I saw 43.50 being strong support and buyers stepping in each time I took off the last piece. 40 target not hit...


Execution detail:

Date/time Symbol Side Price Position
2019-01-16 09:30:00 JWN sell $43.810 short
2019-01-16 09:36:00 JWN buy $43.070 short
2019-01-16 11:11:00 JWN buy $43.810 0


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