NFLX upcoming short on momentum
Updated
NFLX is bumping up against the bottom of the Ichimoku Cloud which is now serving as resistance. Tenkan-Sen is sloping down and indicating further downside. However, in order to avoid jumping the gun we are only going to short once the stock declines below the previous days low. Today's candle is a hanging man. This means that if we take out that low there is a complete reversal in psychology. In other words we are trying to predict what tomorrow's candle will look like even before it happens. No guarantees that any of this will happen but just in case I want to be in once the event happens. Order criteria is stated below:
Entry: 479.25 on Sell Stop Limit
Stop: 491.83 on Buy Stop
Profit target: 460 or lower (your choice) on Buy Limit
Remember if the momentum is not there your order will not trigger. Therefore you would have to cancel it at the end of the trading day. Good luck and let's see what happens.
Entry: 479.25 on Sell Stop Limit
Stop: 491.83 on Buy Stop
Profit target: 460 or lower (your choice) on Buy Limit
Remember if the momentum is not there your order will not trigger. Therefore you would have to cancel it at the end of the trading day. Good luck and let's see what happens.
Note
Entry order triggered. Cross your fingers.Note
Stop Loss hit. I know this is a would of, could of, should of, but a long "flip" on the higher valley bottom on Sept 25 would of been valid before the stop loss was hit. I usually don't trade stocks nowadays since I mostly focus on Forex and E-micro futures. However, I wanted to post a chart to build my so called "rep" points on the site. It was a hurried post at best. Sorry about the late update. Hopefully my next post will be profitable. Oh well back on the horse I go. Onward soldiers!
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