Netflix, Inc.Short
$NFLX - Supply & Demand Setup
Textbook S&D setup.
1. Aggressive sell off back in April 2022 giving away the sellers' presence at the highlighted price threshold.
2. The price retraces with slower momentum back to the supply area previously identified.
3. No trigger yet, but if you pull the lower time frames you'll see that the uptrending structure verified since July 2022 is now seeing steeper swing lows, failing to make higher swing highs and a break a close below the current swing low would be a trigger to look for as the greenlight for a bearish trade.
Remember that despite the slight edge that price action analysis confers, at the end of the day, reality is too complex to fit in this or in any other box.
Therefore anything can happen tomorrow.
Therefore you need to focus first, and foremost in managing risk.
Cheers,
Tenacious Tribe - Backtested Trading Strategies & Studies
1. Aggressive sell off back in April 2022 giving away the sellers' presence at the highlighted price threshold.
2. The price retraces with slower momentum back to the supply area previously identified.
3. No trigger yet, but if you pull the lower time frames you'll see that the uptrending structure verified since July 2022 is now seeing steeper swing lows, failing to make higher swing highs and a break a close below the current swing low would be a trigger to look for as the greenlight for a bearish trade.
Remember that despite the slight edge that price action analysis confers, at the end of the day, reality is too complex to fit in this or in any other box.
Therefore anything can happen tomorrow.
Therefore you need to focus first, and foremost in managing risk.
Cheers,
Tenacious Tribe - Backtested Trading Strategies & Studies
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