Today we will share an analysis of NKE. This can be used as a curiosity or to create a setup with an appropriate Risk Reward Ratio towards the Target.
Main items we can see on the chart:
a) The price is inside an ascending channel providing a bullish context
b) Currently, we can see a clear corrective structure with similar proportions as the previous one
c) Using Elliott Wave theory we can make a count 1234, and we expect 5 to come (Remember that Elliott defined that 5 waves will compose any impulsive movement)
d) We expect a bullish movement towards the higher zone of the ascending channel
e) Also, we have an invalidation level in case the price does not go in the expected direction
f) Remember: Trade safe, protect your capital, and always understand what you are doing!
Main items we can see on the chart:
a) The price is inside an ascending channel providing a bullish context
b) Currently, we can see a clear corrective structure with similar proportions as the previous one
c) Using Elliott Wave theory we can make a count 1234, and we expect 5 to come (Remember that Elliott defined that 5 waves will compose any impulsive movement)
d) We expect a bullish movement towards the higher zone of the ascending channel
e) Also, we have an invalidation level in case the price does not go in the expected direction
f) Remember: Trade safe, protect your capital, and always understand what you are doing!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.