I had the right idea, but executed it badly. I am in a bad place for my trading right now and often act scared and with fear of losses and FOMO.
BABA traded down to test the SMA200 just below the half dollar at 169.39.
It dropped down to the level and formed a decision candle. It looked like it could continue lower and I was sceptical. On the break of the half dollar and high of the DC I took a small position, but immediately took it off when it dropped that level.
When it lifted again, I jumped back in. Good!
I gave it a little more room now and it stuck. My profit was way too early and really did not trust the setup. For whatever reason. Trading out of fear is a bad place to be in.
My stop out was just in a bad place. BABA consolidated on the backside and dropped hard. really should kept a tight stop there. took the trade off at my previous profit.
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