Netflix: Breakout, or Range? My advice... WAIT. Here's why.
Here's a free signal from our strategy, yet my advise is to wait for the simply reason that earnings are due this week. As trend traders we try to avoid crazy volatility as much as possible, and simply ride the wave when it comes. Netflix price is at a strong resistance level, and can easily be rejected and form a range bound market.
However! If you wish to take the chance to go long, you are free to do so, as long as you keep your risk at MAXIMUM of 1-2% of your equity. And when you lose, do not revenge trade or fomo into markets... just close the charts for a day or so. Risk management and discipline determine the success of any good trader. So in this indicator, you will see that the recommended stop loss price level always equates to a max of 2% per trade.
Hope you learned something, and as always, trade safely.
However! If you wish to take the chance to go long, you are free to do so, as long as you keep your risk at MAXIMUM of 1-2% of your equity. And when you lose, do not revenge trade or fomo into markets... just close the charts for a day or so. Risk management and discipline determine the success of any good trader. So in this indicator, you will see that the recommended stop loss price level always equates to a max of 2% per trade.
Hope you learned something, and as always, trade safely.
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