[Premium] NFLX Long And Short Swing Trade Setups Using 3 Month Chart [Setup Expires 3-5 days]

nflx3month

This is the swing trade setup long and short for NFLX’s 3 month candlestick chart:

Long side: Since it’s formed at least a flat, a zigzag could form as well..recent market action has been wild and dangerous, so be patient…a break of [ms-protect-content id=”61″] 115 would setup a move to the 130-132 range, so buying above 115 or the 1.00 is the most conservative way to approach this swing trade.  The reward is a fat 15-17 points, so I’d wait for this corrective formation to end and 1.00 to break.

Short side.  A drop below 107.5 would setup a C wave to the 103 range, but we don’t know if it’s going to be a flat, zigzag or impulse.  Shorting on a break of 103 is another option, but it requires those levels to break in a quick nasty way.

Where I’m leaning:  Patience at the break of 1.00 at 115 is the way to go since long term the highest target is in the 155-160 range based on the 5 year chart. [/ms-protect-content]

 

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