Will Nickel break its current trend and reverse?
Hi All,
Notes are also in the chart. I am lookin for a ptoential long entry but will sit and wait for the market to tell me what to do.
Notes:
- Double Bottom signals a potentiall trend reversal.
There is a an advanced pattern setting up called a Gartley pattern.
- If price breaks off of the Double Bottom, then an area of resistance will be at the area where the Gartley pattern completes
- If price action breaks above D Leg and then the X Leg of the Gartley, then the pattern becomes invalid. This will also add provide additional confirmation of a trend reversal to the upside.
- I dont trade Nickel spot prices but use this as a guide for several ASX Listed companies that specialize in Nickel.
**Watch the Trend line. If price breaks above the trend line then wait for the pull back before looking to go long**
Notes are also in the chart. I am lookin for a ptoential long entry but will sit and wait for the market to tell me what to do.
Notes:
- Double Bottom signals a potentiall trend reversal.
There is a an advanced pattern setting up called a Gartley pattern.
- If price breaks off of the Double Bottom, then an area of resistance will be at the area where the Gartley pattern completes
- If price action breaks above D Leg and then the X Leg of the Gartley, then the pattern becomes invalid. This will also add provide additional confirmation of a trend reversal to the upside.
- I dont trade Nickel spot prices but use this as a guide for several ASX Listed companies that specialize in Nickel.
**Watch the Trend line. If price breaks above the trend line then wait for the pull back before looking to go long**
