Broader Market Structure (NFLX 15M):
NFLX transitioned from a clear downtrend marked by consistent lower highs and lower lows into a bullish structure after a Change of Character (CHoCH) at $1168.81. This shift was reinforced by a strong rally producing consecutive higher highs and higher lows, confirming that buyers have taken control. The recent structural breaks point toward continuation to the upside unless the most recent higher low is taken out.
Supply and Demand Analysis:
The supply zone between $1232–1240 has previously caused a sharp sell-off, showing that sellers were aggressive here, making it a strong resistance to watch. The demand zone around $1192–1200 is fresh and untested, formed after buyers stepped in with strength during the latest rally, suggesting it could serve as a solid support if retested. Lower demand levels between $1155–1165 and $1144–1148 were key springboard zones during the reversal and remain secondary supports if deeper retracements occur.
Price Action Within Marked Region:
Price is currently pushing toward the supply zone, showing strong bullish candles with minimal wicks, suggesting momentum is with buyers. The projection on the chart indicates a possible pullback into $1192–1200 before attempting a break into the $1232–1240 supply. This aligns with healthy bullish structure behavior—retracing to demand before continuation.
Current Trade Bias & Outlook:
The bias is bullish, with an expected short-term pullback followed by a continuation toward the upper supply zone. The invalidation level for this outlook would be a break and close below $1190, which would compromise the most recent higher low and weaken bullish conviction.
Momentum & Candlestick Behavior:
Momentum clearly favors buyers, with impulsive upward moves and shallow pullbacks. No signs of exhaustion or major reversal patterns have formed yet, supporting the continuation scenario.
NFLX transitioned from a clear downtrend marked by consistent lower highs and lower lows into a bullish structure after a Change of Character (CHoCH) at $1168.81. This shift was reinforced by a strong rally producing consecutive higher highs and higher lows, confirming that buyers have taken control. The recent structural breaks point toward continuation to the upside unless the most recent higher low is taken out.
Supply and Demand Analysis:
The supply zone between $1232–1240 has previously caused a sharp sell-off, showing that sellers were aggressive here, making it a strong resistance to watch. The demand zone around $1192–1200 is fresh and untested, formed after buyers stepped in with strength during the latest rally, suggesting it could serve as a solid support if retested. Lower demand levels between $1155–1165 and $1144–1148 were key springboard zones during the reversal and remain secondary supports if deeper retracements occur.
Price Action Within Marked Region:
Price is currently pushing toward the supply zone, showing strong bullish candles with minimal wicks, suggesting momentum is with buyers. The projection on the chart indicates a possible pullback into $1192–1200 before attempting a break into the $1232–1240 supply. This aligns with healthy bullish structure behavior—retracing to demand before continuation.
Current Trade Bias & Outlook:
The bias is bullish, with an expected short-term pullback followed by a continuation toward the upper supply zone. The invalidation level for this outlook would be a break and close below $1190, which would compromise the most recent higher low and weaken bullish conviction.
Momentum & Candlestick Behavior:
Momentum clearly favors buyers, with impulsive upward moves and shallow pullbacks. No signs of exhaustion or major reversal patterns have formed yet, supporting the continuation scenario.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.