Is Ford Ready to Go Vroom after This Speed Bump? 🏎️ | FORD ($F)
🚗 This run had a slow acceleration, but it looks like Ford has finally popped into gear and is off to the races. After seeing some recent lows people (including the COO) seem to be buying Ford back up. Plus, Ford is in the headlines with their new cop car that kills Corona (its a thing, check out the link below). Mostly though, Ford looks like it is finally breaking its downtrend and we are looking for a long play to ride the wave.
Resource: www.businessinsider....s-coronavirus-2020-5 + investorplace.com/20...arts-for-high-yield/ + www.barrons.com/arti...p-shares-51588676425
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1. Fractal Trend is showing an uptrend (Aqua colored bars) on the 1-hour timeframe. This is the first notable breakout since the COVID crash and it is correlating with other beaten down stocks. Overall this is a good sign.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines).
3. The goal here is to take a long position at the S1 bullish orderblock. This level also generally would represent Ford roughly retesting some previous highs before moving up.
4. Our stop loss is placed just below S1, with the logic being that S1 will hold as it acted as a clear major price pivot point.
5. Our target is the R2 bearish orderblock cluster and gap formed back in March. We will be looking to play future longs assuming the uptrend continues but for now we are only looking to play from one level to the other.
6. If S1 doesn't hold, then S2 offers another support level and a chance for the bulls to maintain an uptrend. Below that we breach the trend line and risk a longer drawn-out bottom if not more downside.
Vroom vroom, let's make some money bulls!
Resource: www.businessinsider....s-coronavirus-2020-5 + investorplace.com/20...arts-for-high-yield/ + www.barrons.com/arti...p-shares-51588676425
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
---
1. Fractal Trend is showing an uptrend (Aqua colored bars) on the 1-hour timeframe. This is the first notable breakout since the COVID crash and it is correlating with other beaten down stocks. Overall this is a good sign.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines).
3. The goal here is to take a long position at the S1 bullish orderblock. This level also generally would represent Ford roughly retesting some previous highs before moving up.
4. Our stop loss is placed just below S1, with the logic being that S1 will hold as it acted as a clear major price pivot point.
5. Our target is the R2 bearish orderblock cluster and gap formed back in March. We will be looking to play future longs assuming the uptrend continues but for now we are only looking to play from one level to the other.
6. If S1 doesn't hold, then S2 offers another support level and a chance for the bulls to maintain an uptrend. Below that we breach the trend line and risk a longer drawn-out bottom if not more downside.
Vroom vroom, let's make some money bulls!
