As the weather conditions are fantastic in the Netherlands, I have been trying to figure out a couple of fantastic charts that may be worth to share with you. Introducing to you; Nexium. As far as I know the fundamentals should be quite fine- however my trading philosophy is; News follows charts. Trying to find structures within charts, aiming for shockwaves, consolidations and accumulations. Now, to get this chart into perspective; as you could see Nexium has been under severe accumulation (green and blue circles) while maintaining the longterm uptrend. As to be seen touching the orange line at the end of accumulation, shooting up with aggressive volume it seems the market seems ready for extensive legs up.
Our first point of resistance will be at 0.00008978 to which in my opinion it is likely to burst through that level aiming for the All-time-high (MAJOR) resistance of 0.00012426, touching the majestic mathematical wonder of Fibonacci ^1. After a retrace I am expecting the continuation of the bull market, aiming for significant gains in rather short time.
Bear in mind, these views are my own and should be taken as advice with CAUTION.
Trade carefully and I would like to hear from you (in the comments). Feedback and discussions are warm-welcomed.
Kind regards, Gabriel Molenkamp
disclaimer: had to repost this one from yesterday due to the fact that vers 1. has been removed. The entry was at ±0.000078