To think I literally almost bought puts @ end of week JUST to get a starting trade I could double down on next week, wow. Just wow lol. I would've expected another -5% drop right before / right after earnings after last quarter, especially w/
NFLX,
FB, etc., This is 100% the chart to short, but you're fucking nuts if you think this is the top (I was bearish 20 min ago, I'm not exaggerating lol). Another KATTTIEEEE chart thankfully on the 4hourly - I say this because the MA correlation is the same, w/ same action / reaction, but with a clearer expectation of time before a big move. Realistically, the next fat black candle to sit on the 20 EMA & I'd be confident in buying ATM (or OTM) calls just to see a ride to a break of $200 - although I'd rather see it as a sell off come Monday. After that, the three red lines are god-given short entries that are estimates of what the "top" should look like if consolidation drags on before taking a turn. 271% fib preferably around $202 is A1 long target / short entry. This setup - it's literally the same w/ every "KATTIEEEE" chart I have - so on a golden platter - price would see 271%, 20 EMA would cross over 223% fib, 45EMA would cross over 200% fib, & white curve MA would cross above 161% fib. That's all 100% in-tact as long as price itself d.o.e.s. n.o.t break the 271%. Before that, take a second to consider how crazy going long is before earnings - compare that to your strategy (if, you're technical bias outweighs all else). After that, get short once this is above $200.
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