AFter not finding an Entry to the short side I watched NFLX trade into the 356.70 support I had down.
356.50 looked like it would hold and and I took the offer for a bounce. I read the tape right and gave it some room with a stop below the 356.50 level.
Level held and NFLX made a slow move, but stalled. My first target was not reached on the first attempt. NFLX retested lows and I thought I stop out. NFLX bounced hard now and my target on the offer was hit.
On the next leg down I saw the bid at 356.50 hold. Held bid with many many prints. I assumed a hard drop once that level drops and took the bid to exit before that happening.
To my surprise the level held for another move up before breaking.
Still worth the shot and good trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-02-21 09:49:00 | NFLX | buy | $356.650 | long |
2019-02-21 09:52:00 | NFLX | sell | $357.300 | long |
2019-02-21 09:55:00 | NFLX | sell | $356.500 | 0 |
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