NFLX
Hey, traders.
Yesterday's growth in the banking sector also supported the market due to the easing of the Volker rule.
The news about it was here: www.bloomberg.com/ne...n-reprieve-on-swaps.
On good news, SPY grew at the last hour of the trading session, the stock market followed after it .
Lets see NFLX
It bought back almost all of the decline.
This can be clearly seen on the hour chart.
If today the market continues its growth, we can enter the long above the level 468.59.
And that's why:
1. A large long player has been gaining a position in the channel (highlighted in gray) between 402 and 455.
2. Two waves of falling in the channel were redeemed.
3. After the first false breakout of 468.59, we didn't roll back down and yesterday we bought back the fall again.
We can see that there is a strong long player in the instrument.
Well, according to the classics, two trading ways:
1. Aggressive scenario:
We put a Buy Stop at the top of the level, waiting for a break-down. Hide the protective SL under the level. If an SL order triggers at a strong opening volley, you can restart again.
2. Safe scenario:
We wait for the formation of compression on the lower timeframes. After the formation of this compression and breakage, enter the level retest.
Friends, before we go into the long line, we look at SPY behavior.
trade wisely!