NU is currently in a bear flag on the daily. I think NU will retest the bottom of the channel in the coming weeks. NU touched the 61.8% retracement and the top side of the channel and rejected off the level. This is a long term hold. I will update if I will hold it past .67
Weekly TF:
Bearish Pinbar rejecting at the strong weekly resistance at 1.4666
Daily TF:
The bearish move underway. Broke out of the trendline.
4Hr TF:
With the bear move down, I am anticipating a 61.8% pullback up to the red line, which is a previous S/R level, aligned with a retouch of the trendline previously broken.
Entry on the 4hr:
Entry at the...
Short on the NU. Hold for a couple of weeks.
Reasons:
1. Broken Trendline and pullback.
2. 38.2% pullback and rejection from the weekly support turned resistance.
3. Double top
4. Fundamentally - grown pressure of rate cut after AUD rate cut.
Failed to make a new high and a bearish pinbar off that resistance. Good try tho. We are heading for $24. Who knew that I would be pumping $1.50 gas into my car?
This is a continued analysis of my previous post. Check the related ideas. So, apparently, my guess was right. Thursday's Pump and Friday's dump showed a blatant fake out. Reasons why next week is a short: On the weekly, we see bearish pinbar. On the daily, we see an bearish engulfing candle. On the 4hr, we see a lot of red. Friday's pump dump established that...
Maybe it is too early to tell how this daily candle is going to close. NU skyrocketed overnight. During London time to NY time, it dumped all the way back down. I have a feeling that this may be a fake breakout of the weekly trendline. If price closes below the blue line and .66844, it is surely a short within the channel with the potential to fall down to .64.
This pair finally broke out of the Bullish flag. Closed above and pullback on top of the flag with a bullish pin bar. Entry on the 50% of this pin bar and TP = 1300.
Double Bottom established on the Daily chart with a bullish Pinbar. Breaking above 112.42 and entering long on the pullback for a low risk trade.
TP:115.84
Pullback complete. Hope to see price break above 112.42 resistance line then pullback/reject and continue back up. TP will be the previous high or more if it breaks above 115.
NU is in a channel and rejected off the top line of the channel. I am looking for short opportunities. NU is currently in a pullback. I anticipate NU to touch the resistance and fall back down to low .66 territory.
US Economy is getting its ass handed and the US media is making the situation worse. For the past 5 months, the 1800-1850 level has constantly been tested. If the support fails through, my next support level is the 1558 level, which is the 38.2% Pullback. 1558 level was the previous resistance for 2000 Bubble and 2008 Great Recession. So, it is the classic...
