Top Reversal in $NFLX at significant Levels
NFLX gapped up to 310ish after it sold off hard into the closing the day before to its 300 level.
From the previous days I still had that 312 and 316 Levels marked down. For support I had 300/298 with a short bias below and 312 and 316 for resistance above.
$NFLX ranged between 305 and 310 in the first half hour and did not get anywhere of my levels.
When $NFLX broke out above 310 I was a bit early with my first Entry and should have gone for 313, but was FOMO. I entered below 312 with 314 and 316 in mind for the next adds.
313 and 315 would have been the better spots, but I was ok with my average price and let it play out.
NFLX consolidated a bit below 315 before it finally sold off. rather hard and I took off most of my trade a bit too early as it came below 312.
For the last parts I was more patient and waited for VWAP at 310 and crack below eventually leaving something on the table. Good trade however.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-10-25 09:56:00 | NFLX | sell | $311.720 | short |
2018-10-25 10:01:00 | NFLX | sell | $314.000 | short |
2018-10-25 10:07:00 | NFLX | buy | $312.140 | short |
2018-10-25 10:08:00 | NFLX | buy | $311.880 | short |
2018-10-25 10:13:00 | NFLX | buy | $310.160 | short |
2018-10-25 10:15:00 | NFLX | buy | $309.520 | 0 |
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