TomProTrader

#Nike#NKE- Update: In Large Profit: Expecting Further Downside!

NYSE:NKE   NIKE INC
139 4 4
Traders

UPDATE: Anyone who followed this idea, we are hugely in the money. Well done to everyone who followed this idea. We have made fantastic money off this equity alone. Making good money here. And I think we will continue to do so.

Nike             is looking weak, we are showing signs of a tired up move, topping out, and i'm expecting a cyclic correction very, very soon. We will start with a minor correction, and probably gently sift into the lows, into the mean. We are seeking the bear impulse leg still, but I think I have found it today to be honest, and I think we are literally about to see the impulse leg towards the mean, giving us good profits.

Best of luck
Tom

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Hi Tom, I notice on your several charts such as above, that you mark a zone with 2 red dotted line and label it as a "Demand Zone" located at the very top or price high. I would have thought that it would be more accurate to say it is a "supply zone" or resistance zone.

Would be interested to learn why you call it "Demand Zone" may be I am missing something. Thanks for the chart.
Reply
Hi Dan,

There is no "logical reason" for this. It's just what I've always called it, and it's become a habit now. You're not the first to ask. ;)

Tom
Reply
DanV MOD TomProTrader
Ahh OK. Its just that it conveys different thought. So we have to keep in mind your that on your charts when you say "Demand Zone" = is actually a "Supply Zone" or resistance. :)
Reply
Hehe, yes. I do always try to remember when publishing publicly, but due to me clearly having a short term memory, I keep forgetting ;).

The term, was coined by me (Probably due to me being an easily conditioned oath. But to be clear, I do know the real terms, just what I call them.

Regards
Reply
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