 Well come back folks tonight's edition is about how we could have played Netflix better What you can look for Sometimes it's it's dropping your ticker is dropping and You're wondering should I stay in should I leave and obviously when a ticker is dropping Your premiums are dropping faster because people trend tend to jump off the boat Faster than what the ticker is actually sinking. So In this particular case we and this will apply to a lot of other Trades that you might have had or you may have eventually in the future But in this particular case, we were playing Netflix. We got the bottom pretty pretty good. We entered Right here on this bounce So we took the 585s knowing we would get in the money pretty quickly see we got in the money And I've told you before and Netflix is like that and a lot of other tech tickers are like that That dark green line is 200 EMA it gets attracted to it and See it did the same thing at the end of the day But if it doesn't cross it with with a lot of volume basically it's going to get and Stop there as resistance. I was under the impression looking at the chart that we could have Made it all the way up to here, which is a little higher And I still believe you know, it's not a bad play Which is five eighty nine fifty ish That's where I thought we would go but nonetheless, we were still in the play entry was good at this point It went up and then came back down And this is the part where it started going down I mean it doesn't look that bad from this point of view, but you know your five eighty eight here and it's dropping to in Under a certain one and we've learned this from ages ago as Soon as you see, you know this this wick here is in line with this and Now we're dropping below that and I'll show you exactly what I mean by putting in line Right here So you see Drawed on this again There was support imagine the morning, you know at the gate. It's starting to draw It comes down here, and then it bounces right on this line You guys all see this wick, right? This is what it did came down And bounce right on this so this to me was support and they got rejected it came back down This is where we entered and again Support same line Here the price action pre-market. I'm not really looking at it. Sometimes there's more activity I'm not really looking at that one there so There's a bounce There's another one a higher low So this yellow line that you're looking at was my support line See what it did here. It went below a broke below now This is the mistake This is where you have Market makers and people wanted to get in this is where well my stop was and many other people's stop Would have been set because what happens is as soon as it gets under a Lot of people have a stop their stops right here You can imagine that if you want to get filled you want to fill a big order right here This is where you have a lot of shares that are available So even if the volume picks up under the line you're not making this Rise super rapidly because you're grabbing all the shares under the stop and This is getting messy here, but you see that this is Biding under my line and this is why I decided to get out I was in here and out there a little higher barely green I didn't want to take a red trade on that one. I got out things. I could have done better First obviously you can wait and see what happens, but I was under the impression We were below that support Now is this support from today? Yes, I Could have zoomed out a little bit and see what happened So let me get out of here And if you zoom out a little bit. Oh this is support from Friday see how bounce Same thing double bottom. This is where we took the play on Friday. Same same line So the same line is the same thing here. So Friday we dropped under. I was kind of thinking we will drop lower. However Zoom in a little bit See this guy here Let's get out of here for a second this line This guy is lower How low? I'll show you exactly where it is It's this low, right? It's just like magic, right? I tell you about support and resistance that low from yesterday When it before it started climbing is the same low here So basically my line was from Friday. I was afraid we would go down lower However, this is where it went down yesterday So basically the line was close But it should have been moved down a little bit because yesterday this is where support Remained and this is where we had the buyers stay in So this is number one number one. I should have looked a little further back Zooming out and not trusting the numbers I had from Friday, but making sure that support was there Could there have been a possibility that the support would have been a little lower I mean, we're talking about almost a six hundred dollars stock when you're talking about pennies off Either up or down You have to be precise. Yes, but sometimes, you know Aldo's and computers are trading the whole thing So they will react to previous numbers and this number here Should have been the number I I should have looked at that's number one number two is Compare with the rest of the market. What are we doing? Right? What are we doing in comparison to the rest of the market at that particular time? right at to what was the time exactly on this to 10 in the afternoon At that particular time, what was the rest of the market to doing so? At 210 in the afternoon This is spy. Look at what it was doing right here 210 it was on a double bottom. It was coming back Precisely, you know tiny a little bit higher, but at 210 we were on a double bottom Testing this low Most of the time what you will see on a double bottom and we'll do this either it climbs where it does this there's very little Energy comes down tests and then down So on this double bottom usually you get a test to the outside. So basically us Our Netflix and not on spy on Netflix us on a double bottom on the Overall market, we should have expected some sort of a bounce And to being on the proper support line is crucial So how could have we how we could have been playing? Netflix better two things Looking for proper support making sure we have the right line I mean one line was good, which was from Friday However, you clearly saw that the line from yesterday was a tiny little bit lower and this is where we went down to and The second thing is compared to the gender the rest of the market. How is this reacting? General an overall market was on the double bottom We could have looked for a bounce at that one. So I hope you're learning I'm trying to learn just as much as you are and trying to review plays how we could have improved And help I hope this is a helping out folks. Thanks for watching. See you soon