NFLX long trend analysis
Started by identifying a month long channel that started forming mid March.
Support seems consistent with 2 contact points.
Identified levels:
L365, L412, L444.44 :)
Expecting rejection from L412 and trend support on 27 April, followed by a rise to L444.44 by 1st of May.
Planning to enter after confirmaion of bounce (28 May)
SL of 1700p (2% risk @ 8000 balance = 0.09 LOT size)
TP of 5106p
Risk/Reward ratio of 3
PROs:
L412 and trendline
No MACD Divergence
CONs:
Possible triple top with neckline @ L412. Will watch for breach.
Fundamentals:
Lockdown measures still in place
Support seems consistent with 2 contact points.
Identified levels:
L365, L412, L444.44 :)
Expecting rejection from L412 and trend support on 27 April, followed by a rise to L444.44 by 1st of May.
Planning to enter after confirmaion of bounce (28 May)
SL of 1700p (2% risk @ 8000 balance = 0.09 LOT size)
TP of 5106p
Risk/Reward ratio of 3
PROs:
L412 and trendline
No MACD Divergence
CONs:
Possible triple top with neckline @ L412. Will watch for breach.
Fundamentals:
Lockdown measures still in place
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