Hi everyone! Today’s trading idea is on Nike (NKE)!
It is a long trade for 3 reasons. First, the pivot at 131.83 was broken today, and this might be the beginning of a good movement next.
Second, the RSI shows an advanced breakout, and this is another confirmation we have here.
Third, we are near support level in the 4h...
Using the trend-based fib extensions in combination with a 45MIN Demand, I've analyzed that there is a potential trade opportunity with NKE. If price can drop from supply (which it already has started) to around 132.61 which is confluent with a fib level, we can see price bounce up to supply once again at 134.76 and possibly break-through reaching the 1.618 golden...
$NKE 2HR CHART-
NKE had a nice double bottom and is currently going for that retest of the downtrend resistance (pink). Also has a nice gap fill at 132, eyeing the volume on the breakout for momentum to carry it to the next supply zone at 136. Under 125 would invalidate this idea.
As breakout traders , we look for clear sideways movements that we can define as Zig-Zag / Triangle / Irregular / Flat patterns. Once we spot one, we see the context, and then we project the possible target using Fibo extensions (the fibo extension is drawn using the previous impulse to the sideways movement)
In this case, we have a clear Flag Pattern (or...
Welcome to our weekly trade setup ( NKE )!
Bullish market turnover.
Overall bullish market structure..
Expecting a break above main resistance level.
ENTRY LEVEL @ 135.09
SL @ 132.96
TP @ Open
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep...
Nike reporting an 11% decline in North American sales in FQ3; however, it is currently in a rectangle that should protect against excessive falls.
There are many supply problems, but the analysts continue to see it as bullish.
Resistance should lock the price as the price is still far enough away. It should touch that strong resistance in an oversold...
im buying $141 march 26th calls, maybe 2. nike has been trading sideways for 4 months about. with holiday sales, and them doing very well during covid, i think i have some luck here. wish me well fellas.