Market Observations: NKE has decisively broken its previous downtrend, establishing a higher high. This bullish breach was further fueled by a liquidity run targeting sell stops below the recent triple-bottom (equal lows). The strong momentum accompanying this breakout signals a potential buying opportunity.
Trade Strategy: Target a buy entry upon a retracement to the 61.8% Fibonacci level. Be sure to place a stop-loss order below the recent swing low to effectively manage risk. Maintain a favorable risk-reward ratio.
Video Focus: This video explores the technical analysis principles that support this bullish perspective:
- Trend Analysis: Identify breakouts and trend reversals with clarity.
- Liquidity Runs: Understand how stops are targeted and the impact on price.
- Fibonacci Retracements: Recognize key retracement levels for optimal entries.
Disclaimer: This analysis is provided for educational purposes and should not be interpreted as financial advice. Thoroughly conduct your own research and assess your risk tolerance before making investment decisions.
Trade Strategy: Target a buy entry upon a retracement to the 61.8% Fibonacci level. Be sure to place a stop-loss order below the recent swing low to effectively manage risk. Maintain a favorable risk-reward ratio.
Video Focus: This video explores the technical analysis principles that support this bullish perspective:
- Trend Analysis: Identify breakouts and trend reversals with clarity.
- Liquidity Runs: Understand how stops are targeted and the impact on price.
- Fibonacci Retracements: Recognize key retracement levels for optimal entries.
Disclaimer: This analysis is provided for educational purposes and should not be interpreted as financial advice. Thoroughly conduct your own research and assess your risk tolerance before making investment decisions.
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