Ford: On the road towards profits?🚗

Ford #F F

Looking ahead, our analysis and entry points have proven to be accurate. We are maintaining our long-term position, with a stop-loss set at $10.31. As for our recent short-term trade, we have already secured 75% profits and adjusted our stop-loss to the entry price. We now believe that Wave 1 has concluded, and we anticipate a three-part correction down to Wave 2, followed by Wave 3. We are expecting an Expanded Flat correction, which should not exceed 138%; the precise level will be determined once we confidently identify where Wave (a) ends.

As we prepare for Wave (c) and simultaneously Wave 2, we anticipate a retracement between 50 and 78.6%. Given that this is Wave 2, we are broadening our entry range due to the larger upside potential. We are looking at a risk-to-reward ratio of 4.8 for Wave 3, targeting a minimum of $16.75. Our entry zone ranges from $11.30 to $10.37. 📈

Comment:

With Ford, we are indeed moving in the right direction. Since taking our initial profits, we've observed a downward movement, which we believe has concluded in a Wave (a). We now anticipate the emergence of Wave (b). For Wave B, we expect to reach between 61.8% if it's a zigzag correction, and if it's a flat correction, between 100% and 138%. This means the correction upwards should not exceed $13.37. If the price breaks higher, we'll need to reconsider our analysis, which wouldn't be adverse for us since we hold two entries with Ford, potentially leading to profits. However, if the price falls, we anticipate a retracement reaching between 50% and 78.6%. Therefore, we lean towards the likelihood of a zigzag correction over a flat, as a zigzag typically dips deeper than a flat correction would.