Kardec Trader walks through a live short scalp at the 143.44 level. He spotted a gap-up rejection near 143.5, noted 103k shares resting at the level, and exited on the doji candle for a $9,000 profit before the stock dropped further.
143.44
103k shares
143.5
170,000 shares
About $9,000
This is a 143.44 level, which we marked on the higher time frame. We had a push towards the upside right here. Got rejected. We can see that on the price action. It's a doji on the price action. I'm still not taking it short because usually when you see a gap up, it might go for those buyers again and then might sell off at 143. Now there's like a big seller. There's a big buyer sitting at 141. It doesn't mean anything. It's about what are the other people sitting on the sidelines. They are going to do 103k shares at 143. We took that order, 143.5 got rejected right from that zone. So we tried to push towards the upside. Like 170,000 shares. You filled that order, got rejected. I'm like, okay, it still hasn't touched my criteria for taking it towards the upside, but I took a scalp on it from here till here towards the upside. But I had it in my plan that if it rejects from 143.5, I'm going to exit my position. I actually made like $9,000 on towards the upside and then I was able to capitalize on this downside move.
