ABG long trade - horizontal range
Technical:
✅ reached and respected horizontal support
✅ consistent pattern since Feb. 22
⛔️ CTL not broken yet - could wait for break before entering
✅ Earnings (higher volatility) in about a month - previous bounces reached upper resistance in under 30 days, so should be out of the trade before Earnings announcement on Oct. 27
Market factors:
⛔️✅ Car Retailer - could go lower with current market outlook
⛔️✅ Market could be volatile/bearish today after the FED's interest rate announcement - could wait another day or 2 before placing the trade
Setup
ABG 1D chart
1% fluff
SL under low of range
TP on horizontal resistance
R/R >3:1
✅ reached and respected horizontal support
✅ consistent pattern since Feb. 22
⛔️ CTL not broken yet - could wait for break before entering
✅ Earnings (higher volatility) in about a month - previous bounces reached upper resistance in under 30 days, so should be out of the trade before Earnings announcement on Oct. 27
Market factors:
⛔️✅ Car Retailer - could go lower with current market outlook
⛔️✅ Market could be volatile/bearish today after the FED's interest rate announcement - could wait another day or 2 before placing the trade
Setup
ABG 1D chart1% fluff
SL under low of range
TP on horizontal resistance
R/R >3:1
Tradingview Einsteigerkurs - Klick für Klick zum Mitmachen:
udemy.com/course/tradingview-einsteigerkurs-klick-fur-klick-zum-mitmachen/?referralCode=08AA99B09891EC921562
udemy.com/course/tradingview-einsteigerkurs-klick-fur-klick-zum-mitmachen/?referralCode=08AA99B09891EC921562
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.