Shared by
boldandnuts
NFLX bounced a bit with the market over night and traded between 304ish and 307 during premarket in between levels.
Above I had 312 and 316 as Resistance that were tested in the past days and below I had 300 of significance and 295.50, 292.50 and 286 for support. Not that I thought we would see it. Oh, was I wrong.
NFLX made a quick move lower out of the open, but I expected a selloff before the bounce. When NFLX tested premarket highs I initiated a starter with 312 in mind for final reversal.
NFLX spiked into 308 and sold off. I took profits above VWAP confluence with EMAs and as it broke below.
The last piece when it tested recent lows before it retraced.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-10-29 09:30:00 | NFLX | sell | $307.230 | short |
| 2018-10-29 09:31:00 | NFLX | buy | $306.540 | short |
| 2018-10-29 09:32:00 | NFLX | buy | $305.500 | short |
| 2018-10-29 09:34:00 | NFLX | buy | $304.390 | 0 |
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