NIKE to "Just Do It" to 2023 Highs? Multi Timeframe Analysis
DISCLAIMER: This is not trading advice. This is for educational and entertainment purposes only to demonstrate how I view this market. Trading involves real risk. Do your own due diligence.
Based on my multi-timeframe analysis strategy, I have been looking for setups to go long Nike. Seems like daunting proposition considering Nike's overall weakness this year. That being said, my strategy has rules and my job is to respect the rules.
HTF (12 Month): 2023 candle close formed a "Swing Low", which gave me the bullish bias for Nike to trade up to 2023 highs.
ITF (2 Week): We see the intermediate timeframe is in a bullish price delivery mode (highs of down close candles are getting closed above). We mark of discount arrays (in this case the fair value gap and 2 week orderblock), and wait for price to trade into that point of interest.
ETF (12 Hour): We see price traded down into the 2 week fair value gap. As price is in the area of interest, I take any one of the following entry triggers:
12 Hour CISD (Triggered yesterday, stop below the low)
18 Period MA Entry (Not yet triggered. Stop 120% of 3 period ATR at time of entry)
10h8c MAC w/ Williams Acc/Dis (Not yet triggered. Stop either twice the width of the MAC or 120% of 3 period ATR, whichever is greater)
Divergence (Not yet triggered. Stop 120% of 3 period ATR at time of entry).
If you have questions about my multi-timeframe analysis approach, feel free to shoot me a message.
Good Luck & Good Trading.
Based on my multi-timeframe analysis strategy, I have been looking for setups to go long Nike. Seems like daunting proposition considering Nike's overall weakness this year. That being said, my strategy has rules and my job is to respect the rules.
HTF (12 Month): 2023 candle close formed a "Swing Low", which gave me the bullish bias for Nike to trade up to 2023 highs.
ITF (2 Week): We see the intermediate timeframe is in a bullish price delivery mode (highs of down close candles are getting closed above). We mark of discount arrays (in this case the fair value gap and 2 week orderblock), and wait for price to trade into that point of interest.
ETF (12 Hour): We see price traded down into the 2 week fair value gap. As price is in the area of interest, I take any one of the following entry triggers:
12 Hour CISD (Triggered yesterday, stop below the low)
18 Period MA Entry (Not yet triggered. Stop 120% of 3 period ATR at time of entry)
10h8c MAC w/ Williams Acc/Dis (Not yet triggered. Stop either twice the width of the MAC or 120% of 3 period ATR, whichever is greater)
Divergence (Not yet triggered. Stop 120% of 3 period ATR at time of entry).
If you have questions about my multi-timeframe analysis approach, feel free to shoot me a message.
Good Luck & Good Trading.
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