NFLX gapped up on the morning of 5/18 with high momentum and a volume spike both of
which faded by mid-day shown on this 15- minute chart. Since then price has been in a narrow
consolidation range centered about the POC line of the multisession volume profile. Price is
in the fair value area between the mean anchored VWAP and the +1 STD band. The zero lag
MACD is confirmatory for a trend resting in consolidation
I will watch for green candles in a row with the second having more range than the first. I will
check to see if the relative volume is 2X the running mean. If so, I will enter and try to get
the early breakout. Stop loss will be $365 below the POC line. I will exit upon seeing upper
wicks and volume falling back down to the mean. My expectation is for a quick 3 to 5 percent
trade with a R:R of better than 10:!.
which faded by mid-day shown on this 15- minute chart. Since then price has been in a narrow
consolidation range centered about the POC line of the multisession volume profile. Price is
in the fair value area between the mean anchored VWAP and the +1 STD band. The zero lag
MACD is confirmatory for a trend resting in consolidation
I will watch for green candles in a row with the second having more range than the first. I will
check to see if the relative volume is 2X the running mean. If so, I will enter and try to get
the early breakout. Stop loss will be $365 below the POC line. I will exit upon seeing upper
wicks and volume falling back down to the mean. My expectation is for a quick 3 to 5 percent
trade with a R:R of better than 10:!.
Trade active:
NFLX dropped with the general market movement related to the national debt. Got support from VWAP. Doubled down at the pivot low. Not sure of the consequences of the password crackdown. Could bring more revenue but could backlash. Flip a coin.