NFLX Watching for another BreakoutNFLX gapped up on the morning of 5/18 with high momentum and a volume spike both of
which faded by mid-day shown on this 15- minute chart. Since then price has been in a narrow
consolidation range centered about the POC line of the multisession volume profile. Price is
in the fair value area between the mean anchored VWAP and the +1 STD band. The zero lag
MACD is confirmatory for a trend resting in consolidation
I will watch for green candles in a row with the second having more range than the first. I will
check to see if the relative volume is 2X the running mean. If so, I will enter and try to get
the early breakout. Stop loss will be $365 below the POC line. I will exit upon seeing upper
wicks and volume falling back down to the mean. My expectation is for a quick 3 to 5 percent
trade with a R:R of better than 10:!.
