When NFLX retested 355.50 and formed that little candle I used the highs for an entry. Entry was ok and would do it again. There was an initial move, but 356 held as resistance.
Should have taken off the trade break even, but assumed the local lows would hold support.
A loss at break of 355.50 would have been the right call!
I stuck with it as NFLX made another move lower. I was very calm today and present. Very focused and patient. I really waited long enough for a good opportunity for an add.
NFLX found support at 354 and when I saw the candle form, I waited for it to close and the high to lift in anticipation of the half dollar break. Unfortunately it was just a fake move.
NFLX pulled back against me, but I stuck with my trade as the market looked like it had found a bottom. NFLX traded on lowered volume and wide spreads. NFLX broke lows for a moment, but immediate buying came in for a run up.
Had placed a limit order for half at break even and was filled on the spike.
Stuck with the rest to add back on retest of lows.
Did not see a clean signal for an add on the higher low pullback.
Did very good with my partials at 356, although the one I stopped out of, was just a fake move and I was a moment too early to hit the bid. Bummer, but profit is always good.
Stuck with the rest for 357 (early) and to let the rest run above VWAP.
I was soooo patient with it and eventually it worked out, but took two hours!!! Good job, Markus. 357.50 held the offer the entire time. If volume was any higher it would have been a great play for shorting that level for 30-50cent scalps.
After the breakout I used the spike above 358.50s and drop below that level for my exit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-02-21 10:09:00 | NFLX | buy | $355.698 | long |
2019-02-21 10:14:00 | NFLX | buy | $354.460 | long |
2019-02-21 10:16:00 | NFLX | sell | $355.080 | long |
2019-02-21 10:24:00 | NFLX | sell | $355.980 | long |
2019-02-21 10:29:00 | NFLX | sell | $356.071 | long |
2019-02-21 10:31:00 | NFLX | sell | $356.950 | long |
2019-02-21 12:33:00 | NFLX | sell | $358.520 | 0 |
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