Today I would like to cover Ford motor company.
Support and Resistance is represented in green and red levels.
We have had a nice rebound off an upward support level that has fired green consistently.
We want to use 5.70 as a key Resistance level to play as an edge for a long or a short.
If we failed to breach up here we could see an at least 10% correction off Resistance for another shot at support.
We have higher lows in an ascending wedge formation. (Bullish Pattern)
*Patterns can switch up and not always mean a guaranteed bull or bear move.
The main purpose of the pattern is to help us identify the key breakout areas.
I will play 5.70 with aggression on a 1% -2% flips long and shorts on this edge.
Beautiful clean chart setup.
Support and Resistance is represented in green and red levels.
We have had a nice rebound off an upward support level that has fired green consistently.
We want to use 5.70 as a key Resistance level to play as an edge for a long or a short.
If we failed to breach up here we could see an at least 10% correction off Resistance for another shot at support.
We have higher lows in an ascending wedge formation. (Bullish Pattern)
*Patterns can switch up and not always mean a guaranteed bull or bear move.
The main purpose of the pattern is to help us identify the key breakout areas.
I will play 5.70 with aggression on a 1% -2% flips long and shorts on this edge.
Beautiful clean chart setup.