airbus is consolidating on a key structure support level. the price is stuck on 50 level for more that one month!
on 4H we see a classic contraction with a formation of a descending triangle.
the side of the breakout of the triangle will show us the future direction of the stock.
because the trend is bearish, we are bearish biased here and we expect further bearish continuation. however, in case of a bearish breakout out profits will be relatively limited. we will aim at 40 and this will be the next key structure.
in case of a bullish breakout of a falling trendline, we can expect a bullish continuation, and aim at 76 level.
be prepared for both scenarios and adjust your trading plan accordingly! good luck!
Now that the slope of the upper line of the triangle has changed, how would you act? Theoretically, a breakout of a triangle sees a target set up by projecting the height of the triangle. Should we expect prices around 20€ if a bearish breakout happens?
PhilippeDelpCFA
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seems like the bullish one happened and I check all ichimuku and FIB
All is bullish and no sign the strong support at 50 will be broken
PhilippeDelpCFA
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@PhilippeDelpCFA, As I said and watch out for the break out to 75
ProjectSyndicate
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thumbsup. excellent work.
VasilyTrader
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What is your view on AIRBUS?
bullish or bearish?
sharl92
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@VasilyPonomarev, bearish, with the risk of nationalization!