NFLX reported Earnings the night before and I was patient watching it. Did not like the open and I waited.
I had 341 335.50 and 334(SMA200) as support.
When NFLX came close to the pivot I watched closer. 341 broke, but I expected 340 to hold support. I anticipated a spike below that level and a bid to stick. It did not and I should have waited for the bid to step back above 340.
My Entry was too early. NFLX did not trade much lower that would have allowed for an add here.
342 was my first target, but when I saw it hesitate with 341 I took a partial there.
Should have taken off the rest break-even, but I wanted to see it on the backside for a potential higher low or double bottom kind of setup.
A beautiful decision-candle formed. I hesitated for an add. Triggershy.
That add would not have stuck as NFLX just traded above 340 before testing 339ish again and selling off further.
Sticking to my position was ok. Not adding when there was support found at 337 and a beautiful decision-candle forming was not ok. I mean, it doesn't get any better than that!
Even the full dollar of 338 was there. Break of that and high of decision-candle would have been a perfect add WITH SIZE!!!
When 342 was rejected again I took off my trade. Exit ok.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-01-18 09:56:00 | NFLX | buy | $339.910 | long |
2019-01-18 09:58:00 | NFLX | sell | $340.910 | long |
2019-01-18 10:21:00 | NFLX | sell | $340.410 | 0 |
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