Hi all,
Here we have Aston Martin on a 4HR chart and in the bigger picture it looks like a falling wedge with a major line acting as support, and also a double bottom (with a green candle on the 2nd bottom - although we can wait for a break of the neckline to confirm, depending how aggressive you want to trade)
This support line has acted as good support 1 2 3 4 times, with two good bull moves higher in the process, in the bigger picture we can see the downward wedge could be seen as a pull back..possibly meaning a bull move to new highs,
Set and take profits to suite yourself
Plan B - If price breaks and shorts I have marked a possible area (red dashed line) to where price may fall to.
* This is not financial advice this is my person opinion and for educational purposes only, all feedback back is welcomed *
Good luck and trade safe
L
Here we have Aston Martin on a 4HR chart and in the bigger picture it looks like a falling wedge with a major line acting as support, and also a double bottom (with a green candle on the 2nd bottom - although we can wait for a break of the neckline to confirm, depending how aggressive you want to trade)
This support line has acted as good support 1 2 3 4 times, with two good bull moves higher in the process, in the bigger picture we can see the downward wedge could be seen as a pull back..possibly meaning a bull move to new highs,
Set and take profits to suite yourself
Plan B - If price breaks and shorts I have marked a possible area (red dashed line) to where price may fall to.
* This is not financial advice this is my person opinion and for educational purposes only, all feedback back is welcomed *
Good luck and trade safe
L