NFLX - Didn't play this one but should have. Another weekly ich cloud reversal playing out to perfection. Had a potential top in June, traced it down to a 21 week reversal to $597. Today got to $608, and still have through November for it to hit. And the one level lower target, though it seems unlikely, is still on the table $130 lower with 3 weeks to go and happens to line up with the 144 weekly EMA.
I've been playing with this strategy for a little over a month, and the success rate is wild. It works best on standard longs and shorts as even though you have a timing target, you don't have to deal with time decay when not doing options. And it works on any timeframe. But it only works on a candle that ends up marking a top or bottom in a pattern. If you get a continued move up or down, the cloud and lagging span line will adjust with it and could throw off the trade (especially if its a renewed trend against your reversal). But it's truly amazing how often price will pin to this target on any sort of high or low, even on very short timeframes.
It's also why I see patterns like this and straight up avoid trading. I love messing with FOREX, but the when lagging span of the ich cloud is literally sitting on the candles, there just shouldn't be any expectation of significant moves, even if you a high or low is struck in the pattern. You just have to wait for the next pattern to play out.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
