NOKIA potential long opportunity
Nokia is currently uptrending after completing a large bullish Cypher pattern that even appears on the weekly time scale. Now there is another opportunity for entry, as we are showing a lower low double bottom with daily bullish divergence. Price action (dragonfly doji followed by bullish continuation) indicates a trend reversal.
If entering a trade, one could play the double bottom, placing their stop loss just below the lower low. As price action continues to the upside, especially around the completion zone of the imperfect bearish Cypher (shown in red), one should look out for divergence on the oscillators and consider raising their stop loss if it starts to look bearish. Overall, I see this as a long opportunity with a very high reward/risk ratio.
If entering a trade, one could play the double bottom, placing their stop loss just below the lower low. As price action continues to the upside, especially around the completion zone of the imperfect bearish Cypher (shown in red), one should look out for divergence on the oscillators and consider raising their stop loss if it starts to look bearish. Overall, I see this as a long opportunity with a very high reward/risk ratio.
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