Lateral range, waiting for breakout up .

𝐇𝐞𝐥𝐥𝐨 𝐟𝐫𝐢𝐞𝐧𝐝𝐬 ,

As usual, today I want to analyze another graph and explain it to you in a very easy way.

Look at the NFLX (Netflix, Inc.) chart.

𝐇𝐨𝐰 𝐭𝐨 𝐟𝐢𝐧𝐝 𝐬𝐭𝐫𝐨𝐧𝐠 𝐬𝐮𝐩𝐩𝐨𝐫𝐭?
▶️𝐀𝐫𝐞𝐚𝐬 𝐰𝐡𝐞𝐫𝐞 𝐭𝐡𝐞 𝐩𝐫𝐢𝐜𝐞 𝐟𝐚𝐢𝐥𝐬 𝐭𝐨 𝐛𝐫𝐞𝐚𝐤 𝐬𝐭𝐫𝐨𝐧𝐠𝐥𝐲 𝐚𝐧𝐝 𝐫𝐞𝐛𝐨𝐮𝐧𝐝𝐬 𝐬𝐭𝐫𝐨𝐧𝐠𝐥𝐲.

After several attempts, in July he manages to break the level 467.10.
Since July until now, it has returned to this level on several occasions without being able to break it with force. Whenever the price approaches the same line several times without being able to break and encountering a lot of resistance and bouncing back strongly, it is considered to be a strong support.

𝐇𝐨𝐰 𝐭𝐨 𝐟𝐢𝐧𝐝 𝐚 𝐬𝐭𝐫𝐨𝐧𝐠 𝐫𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞?
▶️𝐓𝐡𝐞 𝐬𝐚𝐦𝐞 𝐬𝐭𝐨𝐫𝐲 𝐚𝐬 𝐭𝐡𝐞 𝐬𝐭𝐫𝐨𝐧𝐠 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐛𝐮𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐭𝐨𝐩.

At the top of the rectangle, the same story happens as below. The price tries to break 3 times these level, encountering a lot of resistance and the price returning strongly downwards.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐥𝐚𝐭𝐞𝐫𝐚𝐥 𝐫𝐚𝐧𝐠𝐞?
▶️𝐏𝐞𝐫𝐢𝐨𝐝 𝐨𝐟 𝐭𝐢𝐦𝐞, 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐩𝐫𝐢𝐜𝐞 𝐦𝐨𝐯𝐞𝐬 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝟐 𝐥𝐞𝐯𝐞𝐥𝐬 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐛𝐫𝐞𝐚𝐤𝐢𝐧𝐠 𝐚𝐧𝐲 𝐨𝐟 𝐭𝐡𝐞 𝟐 𝐥𝐞𝐯𝐞𝐥𝐬.

Well, this in trading is recognized as lateral range, it is dead time where strong hands position themselves and wait for the next move.
Normally after the lateral range, the price follows the same trend as before the lateral moment

𝐓𝐡𝐞𝐫𝐞 𝐚𝐫𝐞 𝟑 𝐩𝐨𝐬𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐢𝐞𝐬 𝐟𝐨𝐫 𝐦𝐲 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 :

1. So as long as it does not break the 467.10 support with force, that level is perfect for a buy position to go long, selling the position at the top of the rectangle.

2. Another scenario is to buy at the bottom of the rectangle and hold it until it breaks the top and sell at the next resistance that i mark in the graph. (𝟔𝟓𝟎.𝟒𝟔)

3. The third scenario is that it breaks the 467.10 support forcefully and then we should go short and accompany the price to the next support (𝟑𝟗𝟗.𝟓𝟖) .

𝐈 𝐡𝐨𝐩𝐞 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐥𝐞𝐚𝐫𝐧𝐞𝐝 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠 𝐧𝐞𝐰, 𝐚𝐧𝐝 𝐢𝐟 𝐬𝐨 𝐈 𝐰𝐨𝐮𝐥𝐝 𝐥𝐢𝐤𝐞 𝐲𝐨𝐮 𝐭𝐨 𝐚𝐩𝐩𝐫𝐞𝐜𝐢𝐚𝐭𝐞 𝐢𝐭 𝐨𝐫 𝐥𝐞𝐚𝐯𝐞 𝐚 𝐜𝐨𝐦𝐦𝐞𝐧𝐭. 𝐓𝐡𝐢𝐬 𝐰𝐢𝐥𝐥 𝐦𝐨𝐭𝐢𝐯𝐚𝐭𝐞 𝐦𝐞 𝐭𝐨 𝐭𝐞𝐚𝐜𝐡 𝐦𝐨𝐫𝐞 𝐭𝐡𝐢𝐧𝐠𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞.