F 5/13/2023
F
F me? No F you!
Daily chart analysis
The current Ford chart has a very familiar look to it. If you pull the BTCUSD and look at the period between Dec. 2017 – Nov. 2018, you will see the noticeable similarities.
You have a Parabolic move to higher prices, a crash back down, following by price forming a descending triangle with lower highs into support level.
The BTCUSD descending triangle broke down and price continued crash to lower prices. I am expecting the same to happen here.
Downtrend + Descending Triangle (Bearish pattern) = Short trade. This will be my cue to enter trade short.
Entry: 11.67
Stoploss: 13.20 (-13.11%)
Target: 6.00 (+48.59%)*, 3.71 RR Ratio
*Initial target is 6.00 but price could go as low as 4.75
F me? No F you!
Daily chart analysis
The current Ford chart has a very familiar look to it. If you pull the BTCUSD and look at the period between Dec. 2017 – Nov. 2018, you will see the noticeable similarities.
You have a Parabolic move to higher prices, a crash back down, following by price forming a descending triangle with lower highs into support level.
The BTCUSD descending triangle broke down and price continued crash to lower prices. I am expecting the same to happen here.
Downtrend + Descending Triangle (Bearish pattern) = Short trade. This will be my cue to enter trade short.
Entry: 11.67
Stoploss: 13.20 (-13.11%)
Target: 6.00 (+48.59%)*, 3.71 RR Ratio
*Initial target is 6.00 but price could go as low as 4.75
Note
Ford is #3 on Top 100 Parent Companies in Subsidy value. You will see what happens to this company now that Debt Ceiling bill has been signed by President.
Trade closed: stop reached
Stoploss: 13.20 (-13.11%)Trade active
Reentering tradeEntry: 14.40
Stop loss: 15.60, -8.33%
Target: 6.00, +58.33%, 7.0 RR ratio
Trade active
loving the gains!note the 1st trade was lost but the analysis was right.
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.
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.