Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Netflix (NFLX) Stock published in members area of the website. Our members are aware of the numerous positive trading setups we’ve had among stocks and indices recently. One of them is NFLX, which made a pullback that concluded right at the Equal Legs zone (Blue Box Area). In the following text, we’ll delve into the Elliott Wave pattern and trading setup.
NFLX H1 update 06.24.2024
Netflix stock is currently in a wave ((iv)) pullback, unfolding as an Elliott Wave Zig Zag pattern. We’ve labeled the pullback as (a) (b) (c) in blue. The pullback is still incomplete at the moment. The stock should ideally see an extension down toward the blue box-buying zone: the 666.26-653.38 area. We expect the stock to rally toward new highs or bounce in 3 waves from there. When the price retraces to the 50% Fibonacci level against the (b) blue connector, we’ll secure positions, set the stop loss at breakeven, and take partial profits.
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.
NFLX H1 update 06.28.2024
The stock found buyers as expected and made a good rally from the Blue Box, as expected. Consequently, any long positions taken from the equal legs area are now risk-free, and we have already taken partial profits. We consider wave 2 red completed at the 662.67 low. The stock remains bullish against the 626.44 pivot. As long as that pivot holds in our system, we believe the stock should continue finding buyers in 3, 7, 11 swings, for a further extension toward new highs or alternatively in a 3-wave bounce.
Keep in mind not every chart is trading recommendation.
Check more of our analysis for currencies and cryptos in members-only area.Visit EW-Forecast for details!
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY
AND LIABILITY
Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk.
However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal,
analysis, or content.
Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on
the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s).
In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else.
Please understand and accept the risk involved when making any trading and/or investment decision.
UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization.
UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm
who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
