NFLX- Ascending Wedge Pattern Setting up Bearish SHORT
NFLX has been in an uptrend and quite bullish and relatively strong
on the 2H chart an ascending wedge pattern is seen.
Moving Averages confirm the present trend as bullish with no crossovers
and the price above all of them.
Given the ascending wedge I will take a small position now at the trendline
resistance as a swing short. I will add to it if/when price breaksdown
below the green trendline support and the fast moving average crosses
the intermediate moving average as well as a line crossover on the MACD
or bearish divergence on a RSI indicator.
on the 2H chart an ascending wedge pattern is seen.
Moving Averages confirm the present trend as bullish with no crossovers
and the price above all of them.
Given the ascending wedge I will take a small position now at the trendline
resistance as a swing short. I will add to it if/when price breaksdown
below the green trendline support and the fast moving average crosses
the intermediate moving average as well as a line crossover on the MACD
or bearish divergence on a RSI indicator.
Trade active
Put option is up 10@ in early trading today. Risk off stop loss moved to breakeven.
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