Nokia testing lows in bearish flag formation
Nokia has seen a very strong downtrend recently, which was stopped as price entered into what could be seen as a flag or triangle formation. The previous movement which I have traded myself has been very continous with minimal pullbacks and therefore few decisions to make.
If we can break the current low of the horizontal movements - around level 39 SEK - there is further short potential. Possibly a break of this level could go to the price level of 35 SEK
Note on previous price dynamics: as indicated with two ellipses price dynamic has been markedly predictable around key levels with a minimum of noise
Correction: It would appear I am only allowed to edit the text part, so will add image later with ellipses marked.
If we can break the current low of the horizontal movements - around level 39 SEK - there is further short potential. Possibly a break of this level could go to the price level of 35 SEK
Note on previous price dynamics: as indicated with two ellipses price dynamic has been markedly predictable around key levels with a minimum of noise
Correction: It would appear I am only allowed to edit the text part, so will add image later with ellipses marked.
Comment:
I am personally in a position from last week. New entries would probably best be entered into after a bar close on 15M timeframe significantly below the spike to 39.07 SEK.