NFLX Trade on Jan 23, 2023 09:42 from Trader_DK88-Andrew_BOWS: Tradervue User Stock Trades.

Improvements:

1. This was a classic day 2 trade setup. Earnings out previous Friday and the stock had a strong run-up and consolidated in the top of the range on Friday.
2. The stock looked as though it would breakout off the open, once it broke above the pre-market highs.
3. Stock played the pre-market & prior day's closing range, first hitting the top of the range and then the bottom of the range.
4. This is clear on the 2-min chart below with first 3-candles, then then the stock started to move and push higher.
5. The stock had an opening drive and hit the 346-level and consolidated high-and-tight.
6. Here I waited for it to setup on the 2-min chart as I expected an "ORB style" pattern to form and the intent was to enter long in anticipation of the breakout.
7. Overall great entry although an opportunity to add a second tier on the trade was missed. Stock being curled up under the 346-level while I was playing the long side, I was cautious in thinking it could roll over here.
8. I am disappointed in my profit harvesting from the trade, my initial profit taking was at 350-level.
9. However the small consolidation below the level had led me to believe it may have been too over extended and could pullback so I decided to hit out.
10. While it was a 3R trade, which is good, the issue is I had left way too much profit on the table given the stock kept going.

11. While in the trade I had check the daily-ATR and the area where I was harvesting profits was at 80% of the daily ATR. So there was a process behind my thoughts in hitting out.

12. This may be a trend in the coming earnings season, where stocks rip and trend. Something haven't seen like this for the past 12-18months. Need to plan for it and leave a 1/4 - 1/3 size on the trade.

Notes:

• Overall a well managed & executed flag trade
• Profit target of 3R was well managed
• Overall had left way too much on the table in not leaving lotto's on the trade
• Own mindset of expecting the market to NOT have such large trend days needs to be more flexible, especially on trend days like these

Actions:

• Playbook the trade

Trade Technical variables:-

ATR: 11.62
Rvol: 2.62
AVol: 10.9M
Beta: 1.12
Short: 2.11%
Float: 438.7M
Ins. Own: 77.30%
WIC: Buyers (short term), Buyers (long term)
VWAP: Above (daily), Above (2Day)