I won’t get into the Bar or Candle chart analysis of NVL which are used for signals (entry as well as exit) but rather count the recent mini top for a bearish objective. That is, Wyckoff Law Cause and Effect. My work is shown on the chart and it appears as though the bearish count was spot on, so far anyway.
It is a group homework for those of us who have registered for the Wyckoff SIG and we will have an accomplished Wyckoffian trader/analyst/friend giving us a bar/candle chart analysis of NVL.ASX at our first webinar on 01/04/2018. I have not made any Wyckoff markings on the chart at this point in time. Link for the webinar will be send out day earlier to those who have registered.
I am also glad to say that within our small group, there some senior analysts (CFTe holders) as well as traders whom we can all learn from the correct application of TA.
Disclosure : I am a holder of NVL.ASX with short to medium term view. Danger point ( low) which I want to see hold is $2.48. Failure of this low to hold would prompt me to exit the trade.
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