Nitrogen Isotopes market analysis~1~
It’s been more than a year since I have posted a Nitrogen Isotopes market analysis. One may take this as a problem or as an opportunity. I love taking opportunities. I recall having had some discussion with people not believing on trend lines. Well, I am going to show this Nitrogen Isotopes monthly chart, coming from this 2013 Nitrogen Isotopes market analysis.
To the “unbelievers” among you: of course one year ago I knew I’d be right about the trend lines and I’d prove it. Therefore I posted the analysis on the EvE Online forums as well, forums that in turn are saved on EvESearch.com for posterity.
Here’s the ancient chart:
Notice those two converging trend lines starting in 2012-2013? Somebody who’d have read my analysis and would have bought stock could have held it for months. Doing nothing but making passive money.
Here’s today’s chart for Nitrogen Isotopes:
Imagine this: buying at 800 and selling at 1200 or higher in August. But “higher” involves knowing the bar showing up 2 on June was a pin bar. Not just “a” pin bar, but a pin bar playing first top to the second top and playing as controlling bar… Too much complex stuff, just dump at 1200 and be happy with that and leave these complexities for real life trading 😀 .
Now, on to the current analysis.
What Price is Doing (WPD)
The market has peaked. Twice. At first on June 2014, then a second top appeared with the September 2014, 2 months pin bar. The resulting double top got to its target on November 2014. Since then, price is pressuring down. BRN 800 is proving quite of a formidable support, it’s now 4 months price can’t break it.
But what happens past this funny stuff? Another triangle! This time it’s small so it’s effects won’t be huge. However if it breaks down (75% of triangles are a trend continuity pattern), if we project its target (see old analyses to learn how) we see price could go as low as BRN 600 before meeting a strong obstacle. If it breaks upward, it’ll find a resistance at BRN 1000 already. I am not saying it could not go higher, but a resistance will be there. Of course this will sound like ambiguous language to say the least… however if I don’t have a certain, unique way situation at hand, I can’t know what price will decide to do next. Had it been a pin bar sitting on a support, it’d be different as it’s a known price action pattern and price is known to tend to try going back to the tip of the bar before the pin bar.