Netflix, Inc.Short
NFLX Elliot Wave, Wyckoff Method with Head & Shoulders Pattern
It is not always easy to time a short, but looking at this chart I will share a couple of confluences that are interesting from a technical analysis point of view.
One can carefully enter the short after the break and retest of the trendline, which is the safest way.
- First, there is a 5 wave completion of the Elliot Wave pattern.
- Then, based on the Wyckoff method of accumulation to distribution, we can gauge areas of UTAD and LPSY takes place.
- Lastly, we can form a Head & Shoulders pattern (a small one) and a neckline.
One can carefully enter the short after the break and retest of the trendline, which is the safest way.
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