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Feb 22, 2019 10:51


Bad Add Good Entry Good Partial Half Dollar Late Exit Resistance Play Top Reversal

Good Entry, Bad add (no add).

I watched NFLX towards the 365 level I had for resistance. It traded into the half dollar area and rejected that level. It slowed down and appeared to form a decision-candle. towards the close and on the way down from the half dollar I initiated a position. Good Entry.

Unfortunately there was no follow through yet. Volume light. NFLX caught a bid and traded slowly higher. I should have taken off the trade as the decision-candle to the upside had formed and broke its highs for a break-even trade to re-evaluate.

The stock was already extended and it was that last leg up it made, but I hesitated at 366 for an add at that area. Even though I saw it consolidate and having difficulties to lift that level. 366 held resistance and NFLX sold off.

Did good on my first two partials, but should have taken off the trade way earlier when 364 held support.

Execution detail:

Date/time Symbol Side Price Position
2019-02-22 10:51:00 NFLX sell $365.350 short
2019-02-22 11:00:00 NFLX buy $364.717 short
2019-02-22 11:04:00 NFLX buy $364.550 short
2019-02-22 11:27:00 NFLX buy $365.320 0

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