NFLX Trade on Jul 31, 2013 09:58 from markmandy54_BOWS: Tradervue User Stock Trades.

Daily flag, intra rip and high and tight flag. Long on B/O confirmation. Stop -.60 (under B/O area), Target +1.75. Started to run and looked great, rolled over and hit for max loss + slippage.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-07-31 09:58:07	NFLX	buy	$245.850	long
2013-07-31 10:01:48	NFLX	sell	$245.110	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=NFLX&trade=533491&end=20130830&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=NFLX&trade=533491&end=20130731160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=NFLX&trade=533491&end=20130731123148&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=NFLX&trade=533491&end=20130731110148&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

kunal00

2013-07-31 12:14:19

if u see its 5minute chart on other days.. it often spikes at the open and fades.. this is not a 5.00 stock that u can just chase high..u essentially chased a 2.00 spike..but the pattern itself was not tight it was very loose so it can act loose too..

markmandy54_BOWS

2013-07-31 12:30:09

Thank you for the feedback. I need to start looking at how the stock has acted previous days off the open and take that into consideration. I remember a week or two ago i bought this stock off the open on a gap and go play and you mentioned to wait for a setup as it consolidates so i tried that here and thought it was a flag. I see what you mean as far as "loose" flag. Would you suggest pass if loose (like today) and buy if tight like it was earlier this month?

Patti-Garland

2013-07-31 13:39:04

Excellent feedback from Kunal. Helpful to many!

oly_BOWS

2013-07-31 19:29:05

I'm finding these helpful for my own sake as well, thanks guys

Gena_BOWS

2013-07-31 20:20:55

Also, on the daily chart, the 20sma could be a resistance spot at 247-248, so the upside reward may not be worth it, for the downside risk. At least that would be my thought if I was looking at that same time to trade this.

markmandy54_BOWS

2013-07-31 20:27:43

Great point Gena (my brain thought the same), at that time the 20MA was coming down on the daily and was around 248.80ish, so i put my target more then 1 point under ( just under previous days high) as $NFLX has a tendency to rip up for pop before rolling (which it did but not much). My R:R was 3:1 which made it worth it to me. I now see it was too loose where other days i've traded it it's been much tighter pattern with the intraday MA's hugging support. Ahh the beauty of hindsight review.

NFLX Trade on Jul 31, 2013 09:58 from markmandy54_BOWS: Tradervue User Stock Trades.

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