NFLX | Weekly Structure | Waiting for the Wave 2 PullbackNetflix, Inc.BATS:NFLXmaratteoThesis: NFLX is beginning to show what could be an important trend change after a long correction. Price has already bounced from around $64 to $83.50 since the middle of July. That is a strong first move and, in my view, enough to potentially complete Wave 1 even though I was initially looking for a move toward the 200 Day MA around $88. After such a move, a Wave 2 pullback would be completely normal and is now what I would prefer to see before building a position. Current Structure: - The move from $64 to $83.50 can potentially represent Wave 1 - The 200 Day MA around $88 remains the main resistance above - After the strength of the recent bounce, Wave 1 does not necessarily need to reach $88 before correcting - I have adjusted the Fibonacci structure to identify where a Wave 2 pullback could find support - The resulting levels align very well with the $75 area Entry Area: The zone I am watching is $73-$76. A controlled three-wave pullback into this range would be the type of structure I want to see. There is also additional long term confluence here, with the 200 WMA currently around $72.40 and sitting close to the relevant Fibonacci support. If this area holds and buyers step back in, I believe it would offer a very attractive place to start building a long term position. Targets: - Short term, I first want to see the current trend change confirmed and the next impulsive wave develop - Longer term, my primary target remains around $250 Positioning: NFLX is currently on my watchlist and I am waiting for the next pullback rather than chasing the first move higher. For me, the $73-$76 area is now the key zone to watch.