NKE wyckoff accumulation

3月15日

NKE appears to be in an wyckoff accumulation pattern. Question for me is whether we will get another spring test or not. Keeping my eyes on possible sweep of the lows before uptrend starts.

3月21日

交易進行

Spring taking place here?

Nothing wrong with a weekly candle touching the bottom of the pennant. If it does a fake-out upwards out of the pennant, why can't it do one to the downside? Doesn't mean structure is gone. Just means there are shake-outs. Questions is what are we trying to achieve with shaking people out? If we could answer that with 100% certainty, we would all be millionaires. Best thing you can do here is stay calm and zoom out.

Meanwhile Twitter and the media are falling over bad results and debating whether the brand will ever be competitive again. Trade what you see, not what you think.

3月28日

註釋

We still have that "sweep" level I marked on the chart. But I would prefer to not see price go there. Instead, I would prefer to see some rounded bottom forming here instead. That would make me more confident of this thesis I'm sharing.

4月6日

註釋

NKE going deeper than I planned on here. 2W RSI for NKE is now at a level not seen since the 80's. It doesn't necessarily change my view here. This is a HTF perspective, and thus allows for shorter term shenanigans. That is if this turns out to be a short term drop to the $50 area.

Not that this $50 area is also the low end of a very HTF upwards channel. Let's see how price behaves from here. US economy is not favorable right now, but I still like this chart when looked at from an individual perspective.

5月30日

註釋

So NKE went a bit deeper than expected. I'm not annoyed by that. But ofc I would not like to see another LL here. Spring phase should be done here and we want to see a spring test and a higher low next.