NKE has perfectly completed cup and handle pattern and has started to go higher. Perfect time to long in my opinion. I have mentioned my entry, stoploss and take profit levels. You can share your thoughts, give suggestion or ask any questions in the comments.
NKE is in downtrend so it seems like a good time to short it. Stoploss is mentioned on the chart which is previous high. I will take entry when it comes a little high and then make first bearish candlestick.
Reversal Buy setup Reward/Risk: 2.89/1 Entry: 135.18 or at a lower price Stop: 129.00 Target: 150.00 Options Play: April 16 140/145 Call Vertical
📈 NYSE:NKE SHORT H4 🛒SELL BELOW = 110.40 🎯Target1 = 106.10 🎯Target2 = 103.40 🎯Target3 = 99 🛑Stop loss or cancel trade = 117.55 🙈Recommended risk = (1%-2%) #NKE #NKESHORT #NKESELL
Looks like the Nike (NKE) stock price is coming down to fill the previous gap, at which level the RSI will be very low, and should result in a bullish reversal. Let me know what you think in the comments. Like this idea if you agree.
We enter the breakdown, the levels will be fixed later, now it is the edge of the ascending Pitchfork Andrews
Here we have Nike, coming back to the L-MLH. To me this looks like a gift from the trading gods. I sell ITM Puts and buy more OTM Calls. If NKE drops out of the L-MLH, the party is over for me. P!
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... DOW JONES Index incl. all 30 Shares (2016 Yearly Performance) @ drive.google.com Best regards Aaron