NHY - NORSK HYDRO - 20 min
Some median levels for the down side and some upper levels for longer term. POssible entry levels for short and mid term. Currently NHY is in a down trend but a reversal may be soon ahead as it reaches levels under 60, may we see levels under 57 before reversal
As you see on the chart we have:
- a squeeze;
- Bullish channel situation: After the breakout with force the support line we will have a big probability of a downtrend.
NHYDY has been in this upward channel for a while, could continue to bounce around inside of it (making for some very good trades when it hits support) or could also be posed for a breakout. Volume picking up, previous resistence was broken and retested. Plus the macro: aluminim price has been going up, EU sanctions against Russian aluminum (one of the world's...
NHYDY has been in this upward channel for a while, could continue to bounce around inside of it (making for some very good trades when it hits support) or could also be posed for a breakout. Volume picking up, previous resistence was broken and retested, plus aluminim price has been going up this week. Worth watching.
Nhy has a bullish structure, is neutral and shifting momentum to the upside. Trying to get an entry at 70.40 and targeting 74 for an easy target and 76 if it breaks ath
Greetings fellow traders,
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
Dashed lines; Possible forming patterns
Solid lines; Confirmed patterns / Support or Resistance
Dotted lines; Possible price-action trajectories / wave trend
Lighten colors = Support | Darken colors =...
TO ME technically there is a lot off positive long term signs here. My challenge will be WHEN, at what price exactly to enter long. What do you guys think? should i enter at 26 and say good is good? or do you guys think i should try to hitt at a lower level? whe have seen eraligher that the right shoulder might be a little lower, but weeve allso seen it higher for...
After the breakout, NHY now seems to be testing previous resistance levels as support at low 33s.
Bounced off MA50 and MA200, Golden Cross with same inputs.
Looks like its finally going to leave this inverse H&S pattern, and accelerate upwards.
NHY trending down on the 4H chart and has tested the trendline twice. Short opportunity will be at the next test of the trendline. MA 40 will be my trailing stop.
