Ford (F): Waiting for the right moment after recent bounce

After being stopped out at break-even with profits already taken on F, we are now observing the chart again. We're pleased that we didn't buy any shares as the anticipated bounce did not materialize. However, Ford did bounce almost exactly at point X, which is where wave 2 should not have dropped below—it briefly wicked under before pumping back up. This is something we can respect, as we haven't been stuck below the designated level for an extended time.

From a technical perspective, the plan is clear, but Ford is highly impacted by the current political climate, as car companies are in the spotlight right now. Despite this, we are planning for a push upwards after the recent dip. Ideally, we should not revisit the $9.64 level or, even better, avoid the wave (ii) level. Multiple levels need to be flipped for us to be confident that there's enough strength for future success. We've marked the "Ideal Entry Point" with a green dot, and it should be clear what we want to see.

For now, we're standing on the sidelines, letting it develop and play out. If our scenario unfolds as anticipated, we can capitalize on it.

Plan the trade and trade the plan.
automotiveElliott WaveFibonacciFORDinvestmentlongsetupmanufacturingMultiple Time Frame Analysisstrategytrading

Exclusive Trading & Investing Group for Crypto & Stocks! 💎📈
Daily Stocks & Crypto Analysis | Daily Bitcoin ETF Updates | Trading Challenges & more

Join us:👇
🔗 wavemarketcapital.com/
Ngoài ra, trên:

Bài đăng liên quan

Thông báo miễn trừ trách nhiệm