Strategy Description: Felt that this was important to go through because I was relatively nervous shorting the breakout and strength.
$99.20, and then through the $100 was a pretty significant breakout for FB. In fact I would expect it to end up going through to >105 soon given the "century" rule. Based on this bias I was really hesitant shorting the gap up against the premarket high, despite the well defined risk. I ended up doing about 1/3 of what I should have and holding for about 1/3 the distance I should have.
I think the key distinguishing factor is simply the size of the gap (about 1.5ATRs and a decent distance away from 8EMA on daily), giving those who bought in anticipation of the b/o a chance to lock in some profit. Then the weakness in the premarket gave the opportunity to get a bit more confidence in the setup (I was covering short where I should have been looking for spots to add now that risk was so well defined).
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