there could be forming a BIG H&S pattern on coats group. I am shorting here with a close SL just above last High. Ill take profit at the drawn support line and watch closely to re open a new short when that support gets broken, which IMO confirms the H&S pattern.
mayor resistance level here. buying volume is decreasing for now, 1.382 Fib level has been reached which is a bullish target. shorting from here. TP 1 1643 TP 2 1600 TP 3 1552 SL 1800
Zoom on the start of the next bull run. all info can be found in chart. TA will be post below this msg. check the related post its comment when i came uo with this, and a more detailed step for step explaination. Lets see if im correct, Have fun. trade safe. Give a like and follow if you enjoy my post!
Nokia hasnt been looking to good the past couple of years, but this all could change very fast. with the upcomming Q3 earnings release coming up this thursday and alot new 5G contracts in their pocket this could be the start of a big impulse wave up. fundamentals: # march 2015 can be seen as the beginning of a HUGE descending triangle with a fake bearish break...
On lower timeframes we can draw a broadening wedge, breakouts of those are random. Target is the highest high minus the lowest low from the breakout. If it breaks down it will break the current parallel channel it has been following, turning it into a bearish flag. Not to mention the H&S pattern on bigger frames. If thats so, i wouldnt be looking to buy anytime...
My previous post i stated we were out of wave 4 in our bearish 5 impulse wave, this has to be corrected as we are in a 3rd correction which is ending with a symmetrical triangle. From there wave 5 starts. U can check my previous post for the buy zone. Short untill long.
Hi guys! so since the triangle is coming to its end, this is my plan! lets see where wave 5 ends for a perfect entry ;)