MSI_JAL26

AAL Retracement into Long?

Long
NASDAQ:AAL   AMERICAN AIRLINES GROUP INC
AAL broke out nicely from the previous resistance (now support) level on a long bullish run. Price has retraced and formed a descending triangle .

Lots of confluence to support a long here. With a TP a the previous high, just pre-gap. My entry at this stage would give me a 72% gain at a Risk to Reward of 7 to 1.

A trade with this R:R ratio means that you could have 6 losing trades in a row, and still make money. These are the kinds of quality trades you should be taking.

I'll be posting more trade ideas week on week. Follow me for more.

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