wolfstreetswinger

AAL - UNDER THE DOME - LONG PLUS SHORT SETUP

NASDAQ:AAL   AMERICAN AIRLS GROUP INC
98 8 3
NICE BIG DOME HERE ALMOST AT THE BASE. THIS IS MY INITIAL SETUP. WHICH SHOULD WORK EITHER WAY WILL EXPLAIN.

THERE MAYBE A COUPLE OF DIFFERENT OUTCOMES, AT THE MOMENT OVERSOLD STOCKS ARE PUSHING THE MARKET BACK UP IF IT SUCCEEDS IT SHOULD BOUNCE UP TO THE ORANGE ZONE WHICH WILL ACT AS RESISTANCE IF SO HERE IS A GREAT OPPORTUNITY TO SHORT DOWN TO FIRST GREEN SUPPORT AREA AROUND 28.00. NOW WERE ON FOR THIS SETUP.

EITHER WAY IF IT FAILS TO BOUNCE YET THEN SIMPLY WAITING WAITING FOR PRICE TO FALL AROUND ENTRY ZONE.
MAKE SURE TO GET A LOOK AT THE WHOLE CHART FOR A BETTER UNDERSTANDING.
LONG AND SHORT BARS ARE GUIDES ONLY ENTER AT MARKET THE CANDLES ARE YOUR SHERPA'S

ANYONE ANY IDEAS ON THIS? THANKS.

Related Ideas

wowsnickerswow
6 months ago
What about simple Fibo levels? If u draw one from lowest to highest lvels its exectly at 50% support now, could be just time to go long to see new highs at 60s
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wolfstreetswinger wowsnickerswow
6 months ago
Thanks yes we are at a good strong support area now from previous big swing low you are right at 50% too, looking only slightly bearish on the weekly we could have a good long entry maybe just above this daily swing high test that 61% level :)
I looked at fib levels but didn't bother adding them in as all sup/res areas look to be between 50-61%

Thanks for your input appreciate it.
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wolfstreetswinger
6 months ago
here's my thinking any thoughts?
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wowsnickerswow wolfstreetswinger
6 months ago
would love to see some hummer on a weekly chart before going long, but it's not always the case right? anyway risk/reward ration is quite good, what r the chances stock will go to it's history low?
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wolfstreetswinger wowsnickerswow
6 months ago
Looking at the weekly we have a strong reversal signal as price is around the S1 pivot point and has crossed the weekly S1 band and come back up happy to go long now when we have good entry.

There is good chance at the moment looks like we've had 3 waves up and were about to enter the third wave down (up then down) so will re-evaluate after this wave.

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wolfstreetswinger wolfstreetswinger
6 months ago
sorry lol
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wowsnickerswow wolfstreetswinger
6 months ago
going long, hope gonna work
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wolfstreetswinger wowsnickerswow
6 months ago
Hope so too, Best of look :) I will be going long placed an order just above that swing high on the daily at 33.00
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