Comments on: NFLX Swing Trade Setup https://rightsideofthechart.com/nflx-swing-trade-setup/ Stock Trading, Investing & Market Analysis Wed, 10 Oct 2018 21:37:02 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/nflx-swing-trade-setup/#comment-4963 Wed, 10 Oct 2018 21:37:02 +0000 https://rightsideofthechart.com/?p=188168#comment-4963 Yes, I think NFLX still has a good chance of moving down to at least T1 soon although if my expectation for a rally in the market tomorrow and/or Friday plays out, we will likely get a bounce in NFLX before the next leg down that should take us to T1. Maybe, maybe not as some stocks can & will move lower despite the index or sector they belong to going the other way.

Sometimes it can be pretty easy to call the smaller rips & dips within a larger trend but usually, it’s not so easy. We have a great entry on NFLX so regarding the official trade, I will leave the suggested stop & price targets as is for now & give it some time to play out unless something compelling in the charts convinces me to close the trade out early.

]]> By: jumpingbean https://rightsideofthechart.com/nflx-swing-trade-setup/#comment-4950 Wed, 10 Oct 2018 17:51:57 +0000 https://rightsideofthechart.com/?p=188168#comment-4950 are we still on track to hit T1? And we expect a bounce at T1 correct? Then reshort for T2?

]]> By: rsotc https://rightsideofthechart.com/nflx-swing-trade-setup/#comment-4921 Wed, 03 Oct 2018 17:27:05 +0000 https://rightsideofthechart.com/?p=188168#comment-4921 Great question. Both the bottom & tops of gaps often act as support or resistance when tested from above or below. Once a gap is entered from above or below, it is often backfilled. Therefore, NFLX could reverse here at the bottom of the gap (as it did on the initial backtest of the bottom of that gap later in the same day that it was created) or the stock could continue higher & backfill the gap.
While there aren’t any guarantees that if NFLX backfills the gap that I will reverse & start moving lower from there, that would be another objective level to short if the charts still confirm at the time. If that is the case, I might revise the official entry on the trade to around that level (top of gap). As of now, NFLX is still just a trade setup, not an active trade as we haven’t triggered the sell signal/entry criterion yet & some trade setups never trigger an entry & will be removed if/when the charts no longer look constructive for a potential short trade.

]]> By: MattChartier https://rightsideofthechart.com/nflx-swing-trade-setup/#comment-4920 Wed, 03 Oct 2018 03:21:02 +0000 https://rightsideofthechart.com/?p=188168#comment-4920 Does the buttom of the gap act as resistance ? or more likely the gap gonna get filled?
thanks !

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