Shared by
boldandnuts
Good trade in BABA. I watched it come into HoD and consolidate above 155.
Resistance: 153.50 155 157
When it formed a decision-candle I waited patiently and took half a tier on the break of lows. Entry was good!
It dropped for a moment, found a bid and pulled back just above my entry. Scared off another leg higher I ignored my Stop at highs and took a partial loss on half position. Stuck with the rest.
It was just a backside retest and reject before the big drop.
At the confluence of EMA9 and prior Support I hit the low for a partial below 155.
BABA made another leg up to retest my entry and I refused to take it off, but stuck to my original exit above highs. Great call. No signal to add back thought.
eventually took off last as 155 held the offer and decremented. Great Exit.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-01-24 11:41:00 | BABA | sell | $155.260 | short |
| 2019-01-24 11:43:00 | BABA | buy | $155.310 | short |
| 2019-01-24 11:46:00 | BABA | buy | $154.900 | short |
| 2019-01-24 11:55:00 | BABA | buy | $155.000 | 0 |
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