Turned mildly bullish on Netflix on 31 May with a tk cross. However the volume was not convincing so today will be doing just a day trade to test my bullish thesis. If successful then my day trade can potentially turn into a swing. On the monthly we had a bullish hammer caused by the monthly lagging failure to cross down the monthly SSB. If this persists then we might have a pullback to the 233-240 zone. The streak of strong bearish months from November means whatever long position should be taken with extreme caution as the overall trend remains bearish and we are attempting to catch knives so to speak.
For the day trade I am targeting the daily kijun zone for a bounce and will be bullish from there with a tight stop. I need to see a good conviction bullish 30min candle bouncing from that red zone or somewhere close to that. The stop will be just below that zone.
For the day trade I am targeting the daily kijun zone for a bounce and will be bullish from there with a tight stop. I need to see a good conviction bullish 30min candle bouncing from that red zone or somewhere close to that. The stop will be just below that zone.
