This was a really good trade. The Premarket high was around 339 and I had that also in mind.
When I saw $NFLX having difficulties in making a move above 339 and saw the spread tighten without further direction I thought to give it a starter just to add at the marked 340.50-341 area in case we got there. It would make a small pullback at some point to allow me at least to get out break-even. Well worth the risk.
At the first moment I had the feeling I was trapped in a fakeout again but stuck with it. $NFLX would drop rather hard missing my first target at 337.50.
$NFLX made a lower high and gave me confidence to stick with my trade and target of 336 in mind where I took off the rest of the trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-10-16 10:08:00 | NFLX | sell | $338.648 | short |
2018-10-16 10:14:00 | NFLX | buy | $337.600 | short |
2018-10-16 10:21:00 | NFLX | buy | $336.050 | short |
2018-10-16 10:22:00 | NFLX | buy | $336.250 | 0 |
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