Nokia has seen a very strong downtrend recently, which was stopped as price entered into what could be seen as a flag or triangle formation. The previous movement which I have traded myself has been very continous with minimal pullbacks and therefore few decisions to make.
If we can break the current low of the horizontal movements - around level 39 SEK - there is further short potential. Possibly a break of this level could go to the price level of 35 SEK
Note on previous price dynamics: as indicated with two ellipses price dynamic has been markedly predictable around key levels with a minimum of noise
Correction: It would appear I am only allowed to edit the text part, so will add image later with ellipses marked.
If we can break the current low of the horizontal movements - around level 39 SEK - there is further short potential. Possibly a break of this level could go to the price level of 35 SEK
Note on previous price dynamics: as indicated with two ellipses price dynamic has been markedly predictable around key levels with a minimum of noise
Correction: It would appear I am only allowed to edit the text part, so will add image later with ellipses marked.
Note
I am personally in a position from last week. New entries would probably best be entered into after a bar close on 15M timeframe significantly below the spike to 39.07 SEK.
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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.