Hello Traders, NKE short-term Elliott wave analysis suggests that the pullback to $78.78 low ended red wave 2 pullback. Up from there, it ended red wave 3 at 09/21 peak (86.26). The Internals structure unfolded as a 5 waves Elliott Wave structure with a extend wave ((iii)). It ended black wave ((i)) at 09/04 peak (81), wave ((ii)) pullback at 09/05 low (78.78)....
Rising wedge bearish pattern Bearish divergence on the weekly! __________ Now is a good time to apply the principle. Sell High. Trade set-up placed. SL 5% A break in parabolic bull trend should retrace to 200SMA Safe trading!
Not my cup of tea. Where is the profitability?
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