Ford has broken out of two falling wedges, targets for both shown on the 2 weekly chart above, and should be headed back towards its January of 2022 highs.
The smaller falling wedge and the larger one have measured moves to TP 1s that sit just below ($22.80) and above ($29.20) its January of 2022 highs ($25.87).
If it can break and hold above 26, TP 2 for both falling wedges line up with halfway between its 1.0 and 1.618 fib retracement at $35.14, and then exactly at the 1.618 at $44.86.
The grey box may act as an area of resistance to this move.
Would you share how you estimated the targets for both the small and large wedge?
dudebruhwhoa
⋅
@drmen, basic pattern measurement for a falling wedge - draw a vertical line from the top of the wedge (at it's fattest touch) to the bottom. Then copy/paste that same line and use it to measure from the point of where each wedge was broken by price. Then do a half measurement from the top of that target using the same line (for both). So 1x and 1.5x measured targets, both measured from the area of the breakout of wedge top