JP225 is currently retesting its head and shoulders pattern.
For 11 straight days, the price has been inside its mother candle. Meaning is that it is still consolidating. Trading is about being patient. So, let's wait for a clear breakout.
The price has completed ABCD pattern. So, we are expecting a minimum target C. In order to buy, let's buy when it gets cheap.
The head and shoulders pattern completed, and currently retesting it.
As expected, a measured move is about to be completed. This is a bullish signal when it reaches the resistance level.
Many traders hide their ignorance with complex models, indicators, and theories filled with big words but of little value. Yet, the market knows the price more than we know.
The price is no longer LL. So, we suspect, it could be a potential double bottom. However, it hasn't broken the neckline yet. So, let's wait until the price get above the neckline, and pullback. Otherwise, it could turn into a triple bottom or just continue to go down.
After successful a head and shoulders pattern, the price is about to decline more. The first leg has completed, and the second leg will be our target.
Netflix price also might drop.