NFLX stock | Take risk or not? | 5 min chart | 30 min chart | How to read charts and then understand when to buy and how much to buy

Top down analysis - 1 hour first, then 30 minutes, then 5 minutes 

1. Read chart - one hour chart - June 26, 29, 30, July 1 four days 
2. Compare hourly chart by candle size, speed, volume and momentum
3. NFLX stock price - July 26 went up from 70 to 75, it took first hour from 70/ share to 74/ share
4. First bar - strong momentum - second bar - uptrend, No. 3, 4, 5, 6, 7 retracement - take 5 hours but only downward small price range - Uptrend is stronger compared to downtrend momentum
5. That is the way we can evaluate the strong momentum of uptrend

Go over the above chart and NFLX stock took one day on June 26 from 70 to 75, but it took two days - June 29 and 30 to retrace from the peak - 75 to 71. The uptrend is more powerful than downtrend, since downtrend took long time to complete the retrace, 1 day up but 2 days down - same price range, and 2 bars green bars inside 2 day downtrend. 

The July 30 NFLX stock closed at $71/ share, one dollar above strong support line 70/ share. It is time to rebound and place a trade to bet rebound, support line at 70/ share will not be tested this time. 

Also check the volume of hourly chart, and then June 30 - Last hour char - Huge volume - It tells that institution buyers and smart retail buyers know the analysis, the time is best to place a trade with optimal win/ loss ratio. 

30 min chart 

15 min chart

5 min chart

Strong support - $71/ share - Test twice