Rising Channel With Expected Pullback and Volatility

Jan 4

Nordic Semiconductor is trading within a well-defined rising channel. As price approaches the orange resistance trendline, a pullback toward the lower boundary of the channel is expected. Historically, price tends to consolidate with elevated volatility around this rising resistance before making a decisive move. Such consolidation can build the foundation for a potential gap up and continuation higher within the channel. However, after a gap up, the focus shifts toward risk management, as price often forms a local top followed by a sharp pullback. This phase typically favors gradual profit-taking rather than aggressive new entries.

Jan 8

Trade active

Price reacted almost exactly in the middle of the highlighted circle, right where the reversal arrow was drawn. The rejection from the rising resistance trendline and the expected pullback played out cleanly, missing the level by roughly 0.50 and about 45 minutes. This confirms the validity of the channel structure and the reaction zone. I have not entered a trade yet, as the plan is to look for long entries closer to the accumulation zone. Market behavior remains fully aligned with prior expectations.

Jan 28

Note

I have now entered two partial long positions around 130 NOK, on the first touches of the highlighted accumulation zone. Price continues to respect the rising channel structure, and the pullback is developing as expected. The plan remains unchanged: look for additional entries closer to the lower channel boundary while managing risk below support. Market behavior remains fully aligned with the original thesis.

Feb 2

Note

Added at 125.6 on the accumulation zone touch.
Bounce underway — thesis playing out nicely.

Feb 6

Note

Observation: Once again, price was pushed lower into earnings, followed by a violent upside expansion.

The story changes every time, but the pattern doesn’t. Those watching the structure simply play along.

16 hours ago

Trade closed: target reached

Sold at 184,20 NOK.