NFLX Trade on Nov 7, 2018 10:28 from boldandnuts: Tradervue User Stock Trades.

Early Entry on Top Reversal in $NFLX for Trade#2

When $NFLX came close to the 321 level and I saw a big order sitting there I placed a limit just below it and got filled .99. $NFLX respected the level and pulled back slightly. I had planned and placed a limit order to cover above 320. 

Add#1

$NFLX turned out to be really strong as I had expected but I wasn't worried. The next level above was a bit far up with 327 and I thought we might see a test around 323.50s and I added just above that. Should have waited for a clearer signal like I saw with the spike above 324.50. 

Not that $NFLX pulled back far, but it would have been a better place to add. My average now 322.31 on 40 shares.

Add#2 and #3 

$NFLX made a nice Bull-Flag and broke out strong and into 326 where I added more for an average of 323.53. Just the previous support at the low of the Flag. 

$NFLX consolidated between just below 326 and below 327 where I had marked resistance by a pivot. 

When I saw $NFLX reject highs and the bid hold 326 I thought it might break down and watched closely. $NFLX dropped the bid, but the Offer remained ABOVE 326. However I added to get a better price. That turned out to be a bad idea as the Bid lifted and NFLX made another run up.

My average now 324.15 on 80 shares.

Final Add#4 

The next level was 334 but I did not expect it to run that far. At least not without some sort of pullback.

I had placed a limit for another add to 328 but pulled it! That was dumb as this marked the high of the move. However I already was at one whole tier and wanted to play it safe. Go for a Backside-Trade and some sort of better confirmation.

$NFLX really showed some weakness now and a big order at 327.55 appeared on different ECNs. That level was quickly refused and the bids dropped hard to 327. I had a good feeling this would be a quick stop before a harder drop and added another piece for an average of 324.72 on 100 shares.

Scaling out

$NFLX dropped hard and I was patient and aware 325 would be very likely to show some support. It did and $NFLX spiked into it and bounced back to 326 to test it again. I decided to take off a piece and closed a quarter position for a small loss. 

$NFLX eventually spiked down into my break-even moments after my loss. Bummer. 

$NFLX then started another attempt higher but was rejected above 325.50 as the $SPY also was in a pullback. 

My next target was 324 but I took off another half at .40s when 30s were respected. 

Next target after was 323.75. Just above the previous support at 323.50s and the 5min EMA9 at 323.50ish. I took off another piece on the spike below that level at 323.35 to hit the bottom before $NFLX ran back into new highs. 15 shares remaining.

I still had VWAP in mind as final target and wanted to see that drop.  

Adding Back at 327

On the run back into highs I had a possible Double Top in mind for an add so I placed an order at 327 to hit the high for an average of 326 on 35shares. 

First target 325 with 325.50 and VWAP in mind for more.

To cut it short. $NFLX was strong with the market and traded around that levels. Took the trade off eventually as I was struggling with TWLO.