NKE is one of the stocks that have the least bull momentum, even when the Dow its posting new highs week after week. The correction of more than 1% today in the indexes can tell us that we may have a small correction ahead of us. I like the set up for a short position in Nike.
At the bottom of a clean ascending canal, one can only be tempted to go long, especially considering that 0.618 were reached, which indicates profits were taken. The presence of a Shoulder-Head-Shoulder, might result on a severe breakout though. The strategy would be to go long and stop loss at breakout, and possibly go short. Good fortune :)
Decent resistance levels above, the longer term trend remains down, the rate moved up for no reason, just the same statement from one ecb member about the rates, so no reason to change the sentiment. Place a top above 1.0850. Target is 1.0350 at least.
Gold almost touched our target at 1193, managing to bottom around 1194 area. Looks like trend is going up already. Happy trading everyone!
Gold might retrace first before uptrend resumes.
Price action shows sideways movement. Price may reach 0.7520 before uptrend resumes.
Buying the 'dip'. The situtation will be no longer active if the price go to the red line, that is my stop loss. The price can go to one of that areas that I drawed. Extended target --only to the shortest possitions and always watching--: 117.000
The 1.43-4360 level has provided resistance going back to the first of December 2016. I am looking at the 2 and 4 hour time frames for favorable price action. If the 1.43 level holds the upside, I am looking at 1.41 as the first level of support.