NFLX Asceding Triangle + Cypher Pattern (Possible Breakout?)
MONTHLY CHART
As we can see in the monthly chart the price of Netflix forming an ascending triangle and before the ascending triangle there was a strong uptrend so i estimate that in some point in the future will be a breakout to the upside.
The ascending triangle is formed with the trend line that formed from 2018 and act as a support and the resistance line around 390$.
WEEKLY CHART
As we can see in the weekly chart we can see that there is a possibility of the creation of a cypher pattern that is an indication of a bullish movement in the future. To be valid the price has to reach around the resistance line and then fall at around 290$ and bounce back at the support trend line in the ascending triangle. Then i can think that the price it will bounce some fib levels of the CD retracements move sideways and lead to the breakout of the triangle.
DAILY CHART / BUTTERFLY PATTERNS
We can see the form of a bullish butterfly with the green that is completed and then the form of a bearish butterfly pattern that is yet to complete. Ultimately as the price fall and then retrace around in the D point close to support line. That is also a sign that validates the bullish cypher pattern because, the D point of the bearish butterfly is the C point of the cypher pattern. So as the price move to D point of the bearish butterfly it has to fall and it will fall and hopefully reach the trend line that acts as support line in the triangle.
DAILY CHART / HARMONIC PATTERNS
We see how this three patterns connection and how the three of them validate the prediction of the price move
With the orange line is a prediction of where the price will go in the future, just my opinion.
As we can see in the monthly chart the price of Netflix forming an ascending triangle and before the ascending triangle there was a strong uptrend so i estimate that in some point in the future will be a breakout to the upside.
The ascending triangle is formed with the trend line that formed from 2018 and act as a support and the resistance line around 390$.
WEEKLY CHART
As we can see in the weekly chart we can see that there is a possibility of the creation of a cypher pattern that is an indication of a bullish movement in the future. To be valid the price has to reach around the resistance line and then fall at around 290$ and bounce back at the support trend line in the ascending triangle. Then i can think that the price it will bounce some fib levels of the CD retracements move sideways and lead to the breakout of the triangle.
DAILY CHART / BUTTERFLY PATTERNS
We can see the form of a bullish butterfly with the green that is completed and then the form of a bearish butterfly pattern that is yet to complete. Ultimately as the price fall and then retrace around in the D point close to support line. That is also a sign that validates the bullish cypher pattern because, the D point of the bearish butterfly is the C point of the cypher pattern. So as the price move to D point of the bearish butterfly it has to fall and it will fall and hopefully reach the trend line that acts as support line in the triangle.
DAILY CHART / HARMONIC PATTERNS
We see how this three patterns connection and how the three of them validate the prediction of the price move
With the orange line is a prediction of where the price will go in the future, just my opinion.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.