$NFLX Sniper
Updated
Simple setup with some projected data points as price targets in time. If and only if at least 3 of them are hit, and maybe a wild card pivot point at any of the elements, preferably the pink rectangle, I would strongly suggest analyzing the potential for a bounce from the green rectangle zone in case another power wave forms that pushes the price higher. The idea is to hunt for the potential power wave, as these are the most fun to trade: momentum, volatility, few days in a trade but with bigger moves.
This project was made on a whim, so I might add one or two more elements during the update comments, but the main idea is straight forwards, easy to understand and easy to approach, as long as we pay close attention to the Japanese Candlesticks for any setups. For this one, in this case, for the simulated/imagined scenario, I will have a lookout for candlestick shadows for any clues, as these stocks can jump up and down without prior warning because of the trading hours.
Last but not least, whatever happens to the price action its relation/reaction to the elements in the project, the green rectangle is a projected potential support and resistance zone (in its specific time zone)/
This project was made on a whim, so I might add one or two more elements during the update comments, but the main idea is straight forwards, easy to understand and easy to approach, as long as we pay close attention to the Japanese Candlesticks for any setups. For this one, in this case, for the simulated/imagined scenario, I will have a lookout for candlestick shadows for any clues, as these stocks can jump up and down without prior warning because of the trading hours.
Last but not least, whatever happens to the price action its relation/reaction to the elements in the project, the green rectangle is a projected potential support and resistance zone (in its specific time zone)/
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Touchdown on the orange and a potential inflection point. If the dots keep getting ignored and missed, we might see some support (or resistance) at the green curve.Note
Top green curve acting as resistance. Waiting for another such interesting "coincidence" in this project for the future. Fingers crossed. Note
An interesting situation with what could be considered as a break and retest of the green curve. Not an ideal situation to be honest, would rather prefer to see another retest and rebound from this later on. (white circle example)Note
NFLX poised to open around 7% lower after the news that it will not report number of new subscribers in the future. Time stamp of the green dot and the price is close to the blue curve which I don't know if it will act as support in this setup.Note
This could be a considered a hit on the green and a pierce of the blue. Not sure if the blue will hold as resistance or the green as support, while the trifecta of green red and blue x could only worry me if it happens because I am not at all confident in the initial scenario (main scenario of the idea) from this position after this drop.Note
From one curve to another, from resistance to support. Maybe there could still be a case for the bulls somewhere around here, but for now I am not convinced.Note
D day or sideline day? Right in the spot of the arrow but after the failed support of the blue curve and more importantly after that big drop from above, this scenario might look intriguing enough, but I find it hard to pull up any strong bullish argument as envisioned by the initial idea which implied a corrective approach towards this spot.Note
Bull run on the blue spot. This could be a reversal right here, or at least an attempt to go for 580 where it opened with the gap.Note
Almost back at the upper green. Don't know if signs of resistance or weakness will show up in this area, but trying to project the visions further into the future I have in this snapshot some levels and zones of interest and influence in case this keeps the current optimistic buying mood. The big green ellipse (which seems a little far fetched around 720) could be a crucial zone for a potential collapse, or just heavy selling because of a multitude of potential factors. /will probably include these in the next idea when things become more clear Note
First sign of weakness for the bulls right at the top curve. Could be just profit taking but anything can happen from here. Let's see if the green curve holds.Note
The resistance at the green looks intriguing but it doesn't look to be weakening for now. Will it slide up eventually? Note
The hit on the blue marked cross is probably irrelevant but the price action under the green curve hinges on the border between absurdity and obscenity. I wouldn't call it a wonder or a weird phenomenon. Market makers and big players are probably just surfing trading view ideas from time to time and decided to create a joke from this drawing. Note
End of the green curve means the approach of the end of the project. It is possible to see a correction towards the red, before we even consider the absurd highs of the green balloon lurking at astronomical price for this stock (>720) if such highs are even worth considering... Could be wrong about the highlighted potential zones of interest in the red curve below and the slim plank, but if I were to chose between the elements left from the future of this snapshot, these would be my picks. This on the other hand does not mean I endorse, advise, or promote a short in this position.We had a good run with 2 Netflix projects which turned out to be interesting, which means the third might be a dud, and might not even come soon. Not necessarily a "quit while you're ahead approach", but this pattern has been observed before in Nen projects...
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Looks like a rebound from the green curve and a decent potential of a hit on the last X marked blue icon. After 666 all bets are probably off.Note
There it is. Show is probably over and we never got to see the 666. 664 instead...End project.
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Bonus comment out of nowhere because earnings report is near. The purple slim was near 630 but will we ever get there? The redish above did an impressive job although my jaw was numb because I exited near 666. One of my least favorite numbers. I am still hypnotically attracted to the big green ellipse which makes me think I should just go out and breathe some fresh air before I get a strike from tradingview staff for writing nonsense. Note
Resurrecting this one for an update. Arrived in the small blue after the big rebound from the red. The green ellipse might be reachable after all.
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