Ignore the Noise... Recognize a Buying Opportunity
At the end of the day as long as this stays above 233.68 its a Buy.
- Bigger picture is NFLX can complete a Running Flat C wave if it stays above 233.68 (i.e. does not retrace more than 100% of wave B
- The 5 count of wave C has formed a wolfe wave with the equilibrium point slightly above where it looks like it will open today (i.e. supply = demand near 272)
- look for a bounce at open to test the equilibrium level:
If it breaks above it expect a run further to try and re-enter the wolfe channel [Initial target 307 by May 2nd]
If initial target is reached expect that momentum to carry it higher to test upper channel [Intermediate Target 335 by May 24]
A breakout from wolfe channel will give it the setup to run Target = 475 by July 22nd. If this materializes I do not expect it to complete gap fill to 500s without undergoing a minor correction or a least consolidation first.
*** If NFLX has a sustained break below 233.68 it opens up a short opportunity - will re-eval. based on how it behaves in the 234-272 range. But subscribers, I assure you, have nothing to do with this. NOT FINANCIAL ADVICE.
Have a blessed day,
The Alpinist
- Bigger picture is NFLX can complete a Running Flat C wave if it stays above 233.68 (i.e. does not retrace more than 100% of wave B
- The 5 count of wave C has formed a wolfe wave with the equilibrium point slightly above where it looks like it will open today (i.e. supply = demand near 272)
- look for a bounce at open to test the equilibrium level:
If it breaks above it expect a run further to try and re-enter the wolfe channel [Initial target 307 by May 2nd]
If initial target is reached expect that momentum to carry it higher to test upper channel [Intermediate Target 335 by May 24]
A breakout from wolfe channel will give it the setup to run Target = 475 by July 22nd. If this materializes I do not expect it to complete gap fill to 500s without undergoing a minor correction or a least consolidation first.
*** If NFLX has a sustained break below 233.68 it opens up a short opportunity - will re-eval. based on how it behaves in the 234-272 range. But subscribers, I assure you, have nothing to do with this. NOT FINANCIAL ADVICE.
Have a blessed day,
The Alpinist
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.