Wednesday, May 6, 2015

Update: $F breaking down from 3-month range-bound trading

Previously we discussed a possible bullish scenario for Ford. Now Ford is breaking down from a 3-month period of range-bound trading:

Remember, charting is all about possibilities. There are no guarantees in the market except risk. The possible breakdown in progress does not negate a possible longer term bullish scenario. But we must adjust our trading and thinking according to the price action. And the current action shows weakness. We must not solely focus on and wish for the bullish case because that's "supposed" to happen. Trading based on what "should" happen is costly.

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