So Netflix formed a perfect Ascending Triangle last week when it broke out. Unfortunately I missed this trading opportunity so I'm looking for another entry point. The TD Sequential indicator has just ended on a 9, so I am anticipating a 1-4 day correction before we move back up. It's also very common for the price to breakout from bullish patterns and then retest the breakout point, confirming it as support. Therefore I am patiently waiting for this to happen, which of course is not guaranteed. Netflix is looking pretty strong right now so I wouldn't be surprised if we fail to get the small pullback. However, I'm not willing to jump in at this point considering what the charts are telling us.
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So far it looks like we are continuing up, but we almost formed a bearish Shooting Star candle yesterday so this could be a reversal point for the next couple of days. We will have to see how today's candle stick plays out.
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I'm still looking for this trade opportunity. The NASDAQ will help decide on the direction for NETFLIX, and I think they are both due a small correction this week.
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Didn't reach the buy zone so will let this trade go and re-evaluate another entry position.
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Damn, got soo close to being a perfect trade here! Better luck next time