Trading Plan after the breakout on NETFLIX

Today we will speak about NETFLIX. These are the main elements we can see on the chart:

a) The price has been inside a consolidation of around 420 days. Now we have observed the breakout

b) Based on that, we want to see a 7 days correction (at least), and if that happens, we will set pending orders on the new ATH and stop loss below the correction

c) The expected duration of this setup is between 150 and 200 days.

d) The risk we will take here is 1% of our capital on the stop loss.

e) We have seen in the past scenarios like these ones where we have an execution followed by a stop. If that's the case, we know we will set new orders in that case. In other words, we are planing a 2nd execution in case of failure in the first one.

Thanks for reading!