Great set up for a long play here on the 15 min chart as the action broke higher and consolidated near the highs before extending higher with strong volume. Love the consolidations above R for continuation moves.
This name was showing relative strength and consolidating above r on larger time frame as well as breaking out of 60 min consolidation I was looking for a possible upside move. Solid entry is to enter off 99.5 small and get bigger once it confirms above 100 with big picture support. Watch NFLX for a possible run up into earnings as well so look for possible buyable dips.
Took the small position off when the action broke up into R. Big Picture rallied up into R and was extended however, the action had cleared R level and was holding above R so no need to be cutting the entire position there.
Execution detail:
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