NFLX has returned to a strong demand area on the 1h/4h charts. Price has created and completed a falling wedge into this demand area, in confluence with the fibonacci golden zone (50%-61.8%). This retracement comes after an uptrend break that began back on May 17th. Price either looking to make a double top by returning to the highs of the falling wedge or it could fail and continue downward.
Trade Idea: On Monday, June 26th, watch price pre-market for a hold of the current support between 422.56 and 423.59. If price falls below here, wait a reclaim of this level to resume the trade idea. A break and hold below the stop levels (416.67 - 417.78) invalidates this trade.
Targets: 428.95, 437.28, 442.52, 448.16
Stop: 416.67 - 417.78
Trade Idea: On Monday, June 26th, watch price pre-market for a hold of the current support between 422.56 and 423.59. If price falls below here, wait a reclaim of this level to resume the trade idea. A break and hold below the stop levels (416.67 - 417.78) invalidates this trade.
Targets: 428.95, 437.28, 442.52, 448.16
Stop: 416.67 - 417.78
Trade closed: target reached:
TP 1 AND 2 HIT
Trade closed: target reached:
TP 3 HIT
Trade closed: target reached:
ALL TPs HIT!!
Dennis Butler Jr.