Boeing is one of the biggest airplane manufacturers in the world. Alongside producing other technologies regarding the aerospace industry.
* Since 2019, Boeing has been going through tough periods and a clear bearish trend that reached an 80% decline in march 2020.
* Since there the price has been moving up, and after the breakout of the descending trendline, we have been observing a consolidation movement (yellow lines)
* These types of consolidations in the weekly chart tend to be amazing opportunities to wait for the breakout and look for trading opportunities after that.
Let's take a look at the weekly logarithmic chart:
As you can see, this is not the first time Boeing has been on a huge bearish trend. That's why studying all these previous situations may bring great insight into what we are waiting for before trading.
At the moment, my plan is: Wait for the breakout and look for a correction + study what past corrections look like in the previous scenarios. I will expand this idea after further study.
Remember: DEFINE everything in advance and wait for the price to fulfill your filter or cancel your setup. That's a powerful edge.
Feel free to share your view or chart in the comments!
* Since 2019, Boeing has been going through tough periods and a clear bearish trend that reached an 80% decline in march 2020.
* Since there the price has been moving up, and after the breakout of the descending trendline, we have been observing a consolidation movement (yellow lines)
* These types of consolidations in the weekly chart tend to be amazing opportunities to wait for the breakout and look for trading opportunities after that.
Let's take a look at the weekly logarithmic chart:
As you can see, this is not the first time Boeing has been on a huge bearish trend. That's why studying all these previous situations may bring great insight into what we are waiting for before trading.
At the moment, my plan is: Wait for the breakout and look for a correction + study what past corrections look like in the previous scenarios. I will expand this idea after further study.
Remember: DEFINE everything in advance and wait for the price to fulfill your filter or cancel your setup. That's a powerful edge.
Feel free to share your view or chart in the comments!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.