Hello everyone! A rising wedge is commonly know as a reversal pattern, I'm looking to short NFLX once we reach the resistance zone in this rising wedge. Even with all the hype from Squid Game numbers and positive earnings, price is not moving much as weeks before. Today Oct 19 NFLX rise in post-market trading to the 663 (wedge resistance zone) and pullback immediately, coincidence? Just an easy setup, remember to have a stop loss!
Not a financial advisor, just my personal idea. Enjoy your week.
Not a financial advisor, just my personal idea. Enjoy your week.
Trade active:
I'm planning to buy NFLX puts on monday. We are now in the resistance zone of this rising wedge making this trade more favorable for us.
Trade closed: stop reached:
I bought some puts after the first 5 minutes of the market, but my stop-loss was triggered when NFLX broke the resistance line.