Yesterday an alert for NFLX long trigger went out: " NFLX triggered long alert, anticipating a reversion to mean, so targets are 179.89, 182.82 & 186.36. " The 1st 2 targets were met, now what?
So now we have a scenario of price finding a challenge in holding above the daily 50, while small triangle contraction after forming the right shoulder of emgering H&S. So I'll be watching the 39m trendline to see if it holds as support or I may scale if I have the opportunity in the morning. It literally can break the triangle in either direction, and there are magnets to the upside. And there's the possibility of sideways continuation. Regardless, if you took the long and still in the position, ask yourself if you are comfortable risking the initial risk involved in taking the trade and wait it out, after all there are 22 days left, or if you want to lessen your risk by placing a stop.