Hello Trading Family, I found NFLX chart interesting.
We can see that NFLX is overall bullish trading inside these two brown trendlines forming a flat rising channel.
From a short-term perspective, NFLX is bearish, trading inside the orange channel but since it is approaching a strong round number 500 (in blue) and the lower brown trendline (non-horizontal support), we will be looking for buy setups to catch the next impulse.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
My Trading Plan:
Our upper orange trendline is not valid yet, so we will be waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing high to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, NFLX would be overall bearish and can still test the lower brown trendline or even break it downward.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
We can see that NFLX is overall bullish trading inside these two brown trendlines forming a flat rising channel.
From a short-term perspective, NFLX is bearish, trading inside the orange channel but since it is approaching a strong round number 500 (in blue) and the lower brown trendline (non-horizontal support), we will be looking for buy setups to catch the next impulse.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
My Trading Plan:
Our upper orange trendline is not valid yet, so we will be waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing high to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, NFLX would be overall bearish and can still test the lower brown trendline or even break it downward.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📊I help you turn charts into a career
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theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.