Ford: On the road towards profits?🚗Ford #F NYSE:F
Looking ahead, our analysis and entry points have proven to be accurate. We are maintaining our long-term position, with a stop-loss set at $10.31. As for our recent short-term trade, we have already secured 75% profits and adjusted our stop-loss to the entry price. We now believe that Wave 1 has concluded, and we anticipate a three-part correction down to Wave 2, followed by Wave 3. We are expecting an Expanded Flat correction, which should not exceed 138%; the precise level will be determined once we confidently identify where Wave (a) ends.
As we prepare for Wave (c) and simultaneously Wave 2, we anticipate a retracement between 50 and 78.6%. Given that this is Wave 2, we are broadening our entry range due to the larger upside potential. We are looking at a risk-to-reward ratio of 4.8 for Wave 3, targeting a minimum of $16.75. Our entry zone ranges from $11.30 to $10.37. 📈