Almost long NAK againThe last week or two, I had bought NAK at 1.625, 1.73 and 2.02, all to sell at 2.215.
The trades are marked by the arrows on the chart. It is a little too fast paced for my liking, however I made a lot of money so I'm not complaining. In this trading climate I have been extra cautious with my trades and so far I've made some decent change.
It's close to a buy again. The 1h and 2h RSI are almost oversold. It is almost at the lower trendline and may also tag the 200ma. These conditions have previously identified bottoms in the current trend. If the current trend is intact , the next trade should be profitable.
I'm waiting for the 2h stoch to start rising out of oversold, and the 2h RSI to reach deeper into oversold. Curiously, the current price is also where that "flash crash" on 5/10 projected. Based on that alone it may be worthwhile to take a baby position here.
I will look to buy in the 1.55 area, which is where the 200ma is.
