Risky Play For American Airlines
Updated
I think we saw a recent spike from American airlines as buyers are finding interest as price hit the top of previous major structure (green arrows) an s&r play.
Notice the spike of the candle where I have a red arrow drawn. To me this looks like an exhaustion candle as buyers got slapped back down. I some what agree with playing the previous structure as an s&r play, but for me it's too much of a risk.
I would need more time to see trend start to develop for a position on american airlines, as we do sit under Resistance.
Premarket is doing good, but I'm not looking at this from an intraday perspective. I say let it develop.
Notice the spike of the candle where I have a red arrow drawn. To me this looks like an exhaustion candle as buyers got slapped back down. I some what agree with playing the previous structure as an s&r play, but for me it's too much of a risk.
I would need more time to see trend start to develop for a position on american airlines, as we do sit under Resistance.
Premarket is doing good, but I'm not looking at this from an intraday perspective. I say let it develop.
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.