Good weekend everyone,
FORD is now reaching top of our descending channel, just below big resistance as show'd there.
If we look at H4 timeframe we see we are just below 200sma but if we check price action/volume behaviour we can see there is not much suplly on this zone, not yet, and for that i believe ford will try to break resistance, will it suceed? we will see.
If Ford break and close above 9.50 then we can try to long aiming previous resistance levels (orange lines).
Should price reject the resistances then its possible to short aiming current bottom.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
FORD is now reaching top of our descending channel, just below big resistance as show'd there.
If we look at H4 timeframe we see we are just below 200sma but if we check price action/volume behaviour we can see there is not much suplly on this zone, not yet, and for that i believe ford will try to break resistance, will it suceed? we will see.
If Ford break and close above 9.50 then we can try to long aiming previous resistance levels (orange lines).
Should price reject the resistances then its possible to short aiming current bottom.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Comment:
As described, even price were below resistance there was clear signals of demand, now price is reaching the big resistance zone, 50 weekly ema and descending trendline
Comment:
We got a good break upside of our downtrend and one rejection, for anyone willing to long this stock now its a good opportunity.
Comment:
Target 1 , hope you guys enjoyed the ride
Now if you are willing to aim TP2 just push s.l around to 9usd level.
Thx everyone
Now if you are willing to aim TP2 just push s.l around to 9usd level.
Thx everyone