Netflix is going to fall sharply soon

5月4日

Netflix is in the huge 5th wave extension. I expect it to complete wave (v) of 5 very soon, probably within the next week.

RSI divergence on 3-days, weekly frames is quite visible and supports the upcoming trend reversal.

When wave 5 is extended, retracement typically goes to the bottom of wave (ii) of this 5th wave. This would mean 1180-1195 USD to end the wave 5. Also, at this price wave 5 will be 2.168 times bigger than waves 1 and 3 together.

5月12日

交易進行

I reconsidered wave counts as initially final wave 5 within extended (V) was hardly an impulse. Wave 5 is over in my opinion and now wave 1 is 1.618 of waves 3+5 so this is perfect relationship for extended wave.

The last ATH is a wave B of the correction.

5月17日

註釋

Last Friday May 16th we've got a doji candle floating above long green candle. Dark cloud cover or bearish engulfing might follow during next few days.

Option 2 is that we consolidate more with slightly going up with protracted candle shadows which would be a sign of reversal very soon.

I am not predicting a certain reversal point here but rather will wait until it and enter short position once it is confirmed. Will update here.

5月21日

註釋

wave X of W-X-Y is in progress

6月9日

註釋

I believe we are very close to completion wave 5 (or C of X) and entire wave 5 as you can see on my chart. I expect start of move down within 1-3 days max with significant retracement.

6月10日

註釋

I believe that wave 5 (C) has been completed. Entering short. First target is $1105 as the beginning of smaller wave 5.

7月12日

交易結束：達到停損點