Shared by
Emilie_BOWS
Daily: 2nd day continuation after 1st day sell-off on earnings report
Intraday: bear flag
- took 1st entry inside the bear flag right under VWAP and the 9/20 EMAs, added when it started moving down
- took another entry on the bear flag around $141
- initial target was $140 but it didn't look bouncy around this level so I held on to my shares but didn't add on the bear flag
- got out when $139 seemed to hold
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-04-19 11:10:12 | NFLX | sell | $142.060 | short |
| 2017-04-19 11:30:05 | NFLX | sell | $141.810 | short |
| 2017-04-19 13:00:18 | NFLX | sell | $140.800 | short |
| 2017-04-19 14:55:03 | NFLX | buy | $139.060 | 0 |
Comments
Emilie_BOWS
2017-04-20 01:10:50
- No. I was leaning short because of previous day sell-off but I had to watch it for some time today before I believed it would continue down. It could have reversed (less likely) or chopped around doing nothing (very common). I didn't recognize the bear flag early on because it was a small flag and I also had to look at other tickers. When it was early after the open, I went through many charts (from watch lists and scanner) and had very short time to look at each ticker before clicking on the next one.
- It wasn't a failed break down to me. It ran into previous day's low while being a bit extended so it pulled back which was completely normal. I didn't wait. I put it on watch and when I saw the pattern I got in. I think I liked the long wick and the "round" shape of the candles.
- I took the bootcamp course but I'm not in chat.
- Strong daily, for intraday it's mainly visual, individual stock momentum, sector momentum, broad market sentiment.
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Hey, great trades over the past few days. A few questions on this trade:
Were you thinking of shorting it when it went G/R on the day? What about from 9:50-10:15 with that bear flag - why did you wait until where you actually shorted it?
At 10:20-10:25 it looked like it had failed to breakdown from that level. What gave you the confidence to short where you did despite that? Also, why did you wait to short it when you did and not the first couple of VWAP tests - was it because the flag was too short?
I have some general questions as well if that's ok:
1. Did you take Kunal's bootcamp course and are you still in his chat?
2. What are some of the things you look for in order for a flag trade to work? Is it something visual or is it something else?
Thanks again.