I had 281 down as resistance and that level eventually was respected giving me a good place to add to this trade.
When NFLX traded below 278 and rejected that level I sold the low of a decision candle but was caught in a fake breakdown. Litterally filled at the lowest point. Refused to take it off when it broke out. Dumb move.
I was very patient here and waited. When NFLX got closer to 281 I added to it when the offer dropped 280.50 just before it spiked up once more. I was really pissed by how it moved. Fakeout after fakeout. I was not able to read the tape. really strange behaviour on low volume.
finally it sold off, but stopped around my break-even and I took off the trade with a small loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-12-12 10:45:00 | NFLX | sell | $277.100 | short |
2018-12-12 11:20:00 | NFLX | sell | $280.490 | short |
2018-12-12 11:32:00 | NFLX | buy | $278.880 | short |
2018-12-12 11:34:00 | NFLX | buy | $279.000 | 0 |
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