The NFLX beginning Phase 7? Even after the jump in earnings to 380 - (400 after hours) it dropped from open 380 Wednesday and corrected ALL the way back down below what appears to be a very powerful Phase 7 line. Just amazing, in only 3 trading days after its reported great subscriber growth.. the stock closed the week at 332. I think we will see the stock accelerate downward from here.
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Haven't updated in a while but safe to say, Phase 7 in charge, only chance to save this Hyperwave is for it to catch the Phase 3 or Phase 2 and continue to the upside... odds of this happening compared to all other known Hyperwaves? Less than 1%Note
NFLX in a Phase 7 and found a bounce at the Phase 3 line. This is very standard in Hyperwaves in fact most find support sometimes for weeks along Phases 2 and 3 during the break down even if the Phase 7 lasts years. I think the fibs here are very accurate and require close attention when price gets near. I will generally only look to get short in Phase 7 using other technical tools and Phase line adjustment. Remember in a Phase 7 the phase line is not like any of the phase lines, it does move, it 'fans' out over time, you can see this by looking through my idea posts and notice how it will slow down in moves typically and more sideways -> lower as time goes on. Phase 7 is the longest phase so no rush, use other techincal tools with Phase 7 hyperwave knowledge to find the best areas to trade short, or if you like to, trade bullish if it gets to far below your interpretation of Phase 7.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.