Long

When to Buy NETFLIX

Updated

So Netflix formed a perfect Ascending Triangle last week when it broke out. Unfortunately I missed this trading opportunity so I'm looking for another entry point. The TD Sequential indicator has just ended on a 9, so I am anticipating a 1-4 day correction before we move back up. It's also very common for the price to breakout from bullish patterns and then retest the breakout point, confirming it as support. Therefore I am patiently waiting for this to happen, which of course is not guaranteed. Netflix is looking pretty strong right now so I wouldn't be surprised if we fail to get the small pullback. However, I'm not willing to jump in at this point considering what the charts are telling us.

Note

So far it looks like we are continuing up, but we almost formed a bearish Shooting Star candle yesterday so this could be a reversal point for the next couple of days. We will have to see how today's candle stick plays out.

Note

I'm still looking for this trade opportunity. The NASDAQ will help decide on the direction for NETFLIX, and I think they are both due a small correction this week.

Note

Didn't reach the buy zone so will let this trade go and re-evaluate another entry position.

Note

Damn, got soo close to being a perfect trade here! Better luck next time

kickflip360

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.