Entry conditions:
(i) lower share price for
NUF along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $3.71 (from the open of 13th February) after closing below 50 day MA.
Stop loss for the trade would be, dependent of risk tolerance:
(i) above the resistance level from the open of 18th February (i.e.: above $3.87),
(ii) above the resistance level from the open of 19th March (i.e.: above $3.95), which coincides well with the 200 day MA.
(i) lower share price for
NUF along with swing up of the DMI indicators and swing down of the RSI indicator, and(ii) observation of market reaction at the support level at $3.71 (from the open of 13th February) after closing below 50 day MA.
Stop loss for the trade would be, dependent of risk tolerance:
(i) above the resistance level from the open of 18th February (i.e.: above $3.87),
(ii) above the resistance level from the open of 19th March (i.e.: above $3.95), which coincides well with the 200 day MA.
Note
UPDATE (week ending 17-Apr): Watch and wait at this point - no action yet... Price action throughout the week respected the 50 day MA to the downside, however we haven't seen how the market responds to the support level of $3.71 as yet following the gap-down that occurred on 11th April...Trade active
UPDATE (week ending 24-Apr): Trade activated on 22nd April with a bounce below both 50 and 200 day MA's to the downside during the week, and decent market reaction to the support level at $3.71. An interesting rebound occurred to the upside over the next couple of days, however, although the respect of the 200 day MA to the downside appears to be remaining intact, so far... Original stop loss above the resistance level based upon the open of 19th March (i.e.: above $3.95) remains intact also.Trade closed: stop reached
UPDATE (week ending 02-May): The stop above the resistance level based upon the open of 19th March (i.e.: above $3.95) has been taken out during the week. Interestingly, the market reaction to this stop was favourable to the shorts following this market trading day on 29th April, so if any traders remain in the trade following this breach of the stop, the short-sellers would be able to exit the trade for a better exit price now. Importantly, the trend is broken and can't be trusted to the downside as originally hypothesised.
Detailed commentary/updates about trades (stocks, crypto & bonds) available:
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Detailed commentary/updates about trades (stocks, crypto & bonds) available:
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
youtube.com/channel/UCiJZV2iT6PJx1ydVaS0JzTw (scan results timestamped in comments)
t.me/ASXTradersUnited
Like/join/subscribe for the latest!
...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.