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Aroon Indicator: Identifying Trends and MomentumAroon Indicator: Identifying Trends and Momentum The Aroon indicator is one of several technical analysis indicators that traders use to identify the direction of trends and establish when they are set to reverse. In this FXOpen article, we describe how to use the Aroon indicator to buy and sell stocks as well as other assets and explain why traders use it in combination with other technical analysis tools to help direct your trading strategies. What Is the Aroon Indicator? The Aroon indicator was created in 1995 by Tushar Chande, a technical analyst who has created several popular trading indicators. It features dual lines: The "Aroon Up" denotes the strength of an uptrend, while the "Aroon Down" measures the strength of a decline. Is the Aroon indicator leading or lagging? It is lagging as it measures how much time has passed between market highs and lows over a given period, based on the idea that assets in a strong bullish trend will regularly record new highs, while those in decline will regularly trade at new lows. Traders utilise this to determine if an asset is trending, trading within a range, or starting a new trend. It helps them to gauge the strength of the movement and anticipate when prices will change direction. Aroon Indicator Formula Explained The Aroon indicator formula comprises two separate calculations. The formula for the Aroon Up line = x 100%. The formula for the Aroon Down line = x 100%. The Aroon indicator is explained as a tool to evaluate the highest and lowest values within a specified timeframe. If the highest value occurs in the current candlestick, the up value is set to 100, indicating a new peak. If not, it returns a percentage value indicating the time elapsed since the last peak. Conversely, if the lowest value occurs in the current bar, the down value is 100, indicating a new low. It otherwise returns a percentage value that shows the time since the last low within the timeframe. Best Setting for the Aroon Indicator Using a short timeframe often makes it difficult to interpret this indicator. Chande recommends the best setting for the calculation is to measure prices over 25 periods, tracking when the last top and bottom occurred. The TickTrader platform does this for you, displaying the Aroon Up and Aroon Down indicators below the price data on a chart. The two lines range between 0 and 100. When measuring 25-day periods, a number above 50 indicates that the high or low was hit within the last 12.5 days, while numbers below 50 show that the high or low was seen within the previous 12.5 days. Below, we look at how to read the Aroon indicator. How to Implement the Aroon Indicator Into Your Strategy There are four main ways you might utilise an Aroon indicator on a chart to analyse price action. The results are relatively easy to interpret. Identify Prevailing Trends The most common way to use it is to determine the direction of the market. If Aroon Up is above the 50 level and the Aroon Down below 50, the trend is bullish, and it is more likely that the market will surge to new highs than lows. You could take this as a signal to enter or hold a long position. Conversely, if the down value is above 50 and the up value is below 50, as on the chart below, the trend is bearish, and you could opt to go short. Identify Potential Trend Changes Crossovers of the two lines often indicate that the market is changing direction. When Aroon Up crosses above Aroon Down, the market may be starting a new bullish trend. It is considered to be underway when the Aroon Up line reaches 100 and is confirmed if it remains between 70 and 100, with the Aroon Down between 0 and 30. A bearish turn could be emerging if Aroon Down crosses over the Aroon Up line and reaches 100. If it remains between 70 and 100 while the Aroon Up holds between 0 and 30, the bearish move is confirmed. You could utilise this as a signal to go long once the Aroon Up crosses above the Aroon Down and go short once the Aroon Down crosses above the Aroon Up. Note that sometimes the lines will break above 50 before crossing over each other. Assess Trend Strength Values between 70 and 100 not only confirm a trend is underway but also point to its strength. The closer to 100 the reading, the stronger the trend. Values closer to zero indicate that the momentum is weak. Understanding the strength of the move can help you decide whether to enter, exit or remain in a position. Identify Consolidation Periods The lines moving in parallel suggest that the market is consolidating within a range, as shown in the chart below. If both are below 50, no new highs or new lows have been set in the last 12.5 periods. Traders can take the opportunity to monitor the market and look for the next crossover in the Aroon Up and Down indicator lines to signal in which direction the asset will move to break out of the range. How to Combine Aroon with Other Indicators As technical indicators sometimes provide false signals, traders try to combine multiple analytical tools to confirm trends, reversals, and momentum before taking a position. Here’s how to use the Aroon Up and Down indicator with various other tools to help direct your trading. Moving Averages When a moving average points to an upward movement alongside the Aroon lines, it might be a bullish signal to enter a long trade. And when both tools are bearish, you could choose to go short. The death cross – a short-term moving average falling below its longer-term moving average, signalling a decline in a price – and the golden cross, in reverse, may be combined with Aroon crossovers to identify changes in direction. You might opt to check higher timeframes for the Aroon chart to filter out noise. Relative Strength Index (RSI) Combining Aroon Up and Aroon Down with the RSI often provides a strong indication of a reversal. The RSI and spikes in the Aroon help you to identify overbought or oversold conditions. When the RSI is in an overbought or oversold zone, and the Aroon moves above 50, it may provide a potential entry point for a trade. Donchian Channels The Donchian Channels identify potential breakouts and reversals, and you can refer to the Aroon lines plus the 100-period moving average for confirmation. If the price rises within the upper Donchian channel above the 100-period moving average with the Aroon pointing to a strong uptrend, you could take a long position, whereas confirmation of a downtrend could prompt you to go short. Parabolic SAR If the Parabolic SAR indicates that the market has bottomed, suggesting a buy trade, you could check the Aroon to confirm that the price has reached the reversal stage into an uptrend. You could initiate a long position with a stop loss placed below the first Parabolic SAR dot or using Fibonacci intervals. Conversely, if the Aroon suggests the asset could reverse into a decline, you could confirm the signal with the Parabolic SAR to initiate a short trade. Aroon Indicator: Advantages and Disadvantages There are several advantages to using the indicator, including that: It’s simple to read, making it easy to analyse and suitable for beginners It effectively signals changes in direction It provides valuable insights when used in conjunction with other technical indicators It allows the use of customisable time periods to fit your needs While it is useful, there are also disadvantages, including: As a lagging indicator, it misses out on trading opportunities at the start of a trend It measures the time between new highs or new lows but not how much the price has changed Sometimes, it provides false signals in choppy markets as the rapid price changes cause it to whipsaw Sometimes, it gives late signals when the asset has already moved and is preparing to retrace, especially when you apply the Aroon indicator without other indicators Conclusion The Aroon technical indicator is a simple-to-use technical indicator comprising two lines that help you to determine the direction and strength of asset price trends. It is most effective when used on charts in conjunction with other technical indicators and patterns to provide confirmation before taking a position. You can open an FXOpen account to practise using the Aroon indicator and other tools of technical analysis. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:NFLXEducation
by FXOpen
2
Can Netflix Return to Old Highs?Unlike many big Nasdaq-100 companies, Netflix is below its 2021 high. Could that change for the streaming giant? The first pattern on today’s chart is the pair of bullish price gaps after the two most recent quarterly reports. The upward moves may reflect confidence that the company’s fundamentals are improving again. Second, NFLX made a higher high last week and a lower low (relative to the preceding week). This week is just the opposite, with small moves inside the previous range. That pair of bullish outside and inside weeks may reflect positive sentiment. Third, you have a falling trendline in late January and early February. The stock has broken that resistance and bounced above it. Finally, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. That may reflect a short-term uptrend. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Important Information Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:NFLX
by TradeStation
1
Netflix (NFLX) Should See Further UpsideShort Term Elliott Wave View in Netflix (NFLX) suggests that cycle from 12.6.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 12.6.2023 low, wave (1) ended at 500.89 and wave (2) dips ended at 461.86. The stock extended higher in wave (3) towards 579.64 and pullback in wave (4) ended at 548.93 as the 30 minutes chart below shows. Internal subdivision of wave (4) unfolded as a double three. Wave W ended at 554.37 and wave X ended at 589.50. Wave Y lower ended at 548.93 which completed wave (4). The stock has turned higher in wave (5). Up from wave (4), wave ((i)) ended at 559.20 and dip sin wave ((ii)) ended at 550. Wave ((iii)) higher ended at 594.99 and pullback in wave ((iv)) ended at 591.53. Final leg wave ((v)) ended at 598.80 which completed wave 1 in higher degree. Pullback in wave 2 is now in progress. Down from wave 1, wave (a) ended at 577.46 and rally in wave (b) ended at 590.42. Wave (c) lower ended at 569.66 which completed wave ((w)). Expect rally in wave ((x)) to fail and the stock to turn lower in wave ((y)) before ending wave 2. As far as pivot at 548.91 low stays intact, pullback should continue to find support in 3, 7, 11 swing for further upside.
NASDAQ:NFLX
by Elliottwave-Forecast
Post Earnings Continuation to 585This idea is an update to my original idea "Earnings Pop to 520" (see link). NFLX needs to make a sustained break above 569 to initiate the next move higher to 585 (minimum target). Once we get this break it will take the following path - expected path is the black arrow: - Run to 585 (by 2/2/2024 earliest, 2/9/2024 latest) - Pullback to test 577 for support - Then at least one more leg higher to 600-620 ( point target = 610 by 2/16/2024) The green funnel represents buying pressure that will drive this higher. The most important channel is the dashed deep purple/blue boundaries w/ solid blue center - this is the demand zone that it will respect during the markup. ----------------------------------------------------------------------------------------------------------- Bigger picture: If you go back to Jan. 2022, there is a gap down from 563.36 - 566.88. The earnings pop filled this gap and we are currently establishing support in that range. Confluence at the 585 level as an initial target: - 0.786 retracement of the ATH (700.99) back in Nov 2021 = 585.80 - larger degree activate markup level at 585, this will act as another bullish driver to send this higher to 610 after 585 is tested - Equilibrium levels where supply = demand at (2/2/2024, 583) and (2/5/2024, 584) ** Stop loss is a sustained break below 556. It can trade below that intraday, but if it closes below 556 on 2 consecutive days it will assume risk of dropping lower to test 537 Good Luck bears, bulls still have this. ~Jerrymandering 101
NASDAQ:NFLXLong
by JerryManders
18
NETFLIX Correction starting. How low can it go?Netflix (NFLX) has gone a long way since our November 28 2023 buy signal (see chart below) that reached our $580 Target, giving more than +20% return: As the price has been consolidating for practically 2 weeks, it is time to update our outlook for medium as well as long-term investors. The long-term Bullish Megaphone pattern that started on the July 13 2022 Low, is intact and the stock continues to respect its Support and Resistance levels. The current consolidation is coming off an overbought 1D RSI peak at 83.00, which has since corrected, while the price was consolidating, which is a technical Bearish Divergence. We have previously seen the same kind of overbought RSI Bearish Divergence on the July 19 2023 and February 03 2023 peaks, both Higher Highs on the Bullish Megaphone. As a result, we expect a correction of around 4 weeks and being on a consolidation suggests that it is still early to enter. The 1st Support level is the 1D MA50 (blue trend-line), which has been intact since the October 27 2023 bounce, but we are aiming for the 1D MA100 (green trend-line) as it has been touched during both 2023 correction waves. Our Target is at $485, but we will book the profit earlier if the 1D RSI hits the 30.00 oversold limit first. The Sine Waves can be used as an extra decision making indicator here. As you can see they fairly match the Peaks and Lows of the stock price, so if the price approaches the Sine Bottom March 20 and hasn't rebounded yet, we will close the shorts and buy long-term regardless. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NFLXShort
by TradingShot
Can NFLX trend higher ? LONGIn its past NFLX got through the Covid downturn with only a 10% correction, then went through a rise into a year of consolidation and finally another big trend up which reversed badly in Winter 2021. After a business model adaption and modification of subscriptions and password/account sharing protections, price has made great gains. On the weekly chart, a trend upward has been in place since July 2022. On the weekly chart, bigger ranged candles have been put in for two weeks. It seems that from here, while NFLX could rise heading toward a new all time high. On the other hand, just as it did in 2020 at a similar price level ( marked as # 1 and an oval around the price action), it could get range bound or consolidated ( # 2 marking the present.) The mass index indicator gives a hint that the trend will continue and not reverse. It is fluctuating in a mid-range without a hint of rising into the threshold and trigger zones. Notably in the 2021 downturn, the RSI and MACD ZL) signaled the reversal before the mass index. Those two indicators in the present show no hint of bearish divergence so far. Accordingly, for the time being, NFLX continues to be a long trade with 20% upside into the level of the all-time high ( discounting any effects of inflation and dollar devaluation in any of this which is very important overall but generally ignored).
NASDAQ:NFLXLong
by AwesomeAvani
Netflix is cancelledBack in July 2023 NASDAQ:NFLX on earnings did a weekly price Spike across a major 50% Retracement level. I entered into a short trade on the stock which worked well for a few months until the market turned decidedly bullish in October and then the trade stopped out. The recent earnings pushed the stock price higher as Netflix net income is dramatically higher than it was last year. In the meantime I switched my cell phone carrier to T-Mobile and with the unlimited data package (that I need as my backup Internet for trading) it included "free" Netflix. Fine, I'll setup an account, but I will name my profile what I named it... Neflix content has declined in quality dramatically over recent years as intellectual property owners have rescinded or let expire their content deals to put them on their own platforms. There are also certain... ideological... leanings of Netflix content that I will not expand upon. Either way, my feelings about a company I try to avoid trading upon... because as we can see in this example one's feelings do not translate to good trades alone. However, in addition to lackluster content a change in their rate plan is underway which may be significant. Netflix is trying to upsell customers on "better video quality" while inserting ads into lower tier content. I for one refuse to watch commercials so I promptly cancelled whatever "free" service that T-Mobile was offering me. Right now I do not think there is a trade to be made either on this change or price but I am watching. A bit of trading history to share about Netflix... back in 2011 Neflix had a whopping -83% drop when it tried to change its subscription plans to separate the mail order service from the streaming service. Netflix was being forward looking but the market was still living in a world that expected us to be ordering DVDs forever. The market is very often very wrong.
NASDAQ:NFLX
by norok
2
Possible Bullish Setup on NFLXKey Takeaways: +Since ER gap up we had a continued uptrend leading into this tight $15 descending channel which I am approaching with a slightly bullish breakout bias provided we hold the key demand box +Trending above 20d SMA and 20d SMA > 50d SMA > 200d SMA meaning we are in a healthy uptrend +I would expect ~$15 move topside after breaking the TL resistance and 566.5 short term supply confluence area which would send us to the PTs listed in the chart
NASDAQ:NFLXLong
by brycat23