Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

NOK- Imminent Ascending Triangle breakout?

Alert! Alert! Possible breakout from NOK.  We are looking at a possible ascending triangle (continuation) breakout pattern.  Prices had been meandering around the $3.85-$3.88 area for the last half-hour and as an observer, I say it really wants to go up to take out the $3.90.

Will NOK be able to do that?  My bet is that we will see the breakout today.  Behold the price action when it does.

Below is the NOK daily chart about 5 minutes ago:


Below is the NOK weekly chart:


By looking at the charts, you can see where I’m coming from.

I bought back in @ $3.87.  Even though I dumped it yesterday, I’ve no qualm buying it back at higher price as long as I see a momentum for the upswing.  It is all about price action; not about where I’ve bought and sold before.

Trade well!

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