AML Aston Martin Buy signal
Has the down then ended? Yes I think so.
Price is now entering the buy zone between 1000 and 800. A new low will invalidate the buy signal and signal new lows.
I'm using the weekly chart here as daily candles have previously given false buy signals that were subsequently stopped out when new lows printed.
Count back line analysis - drawing a red line at the low and then counting back to the height of 3rd lowest weekly candle gives us an buy entry signal when price closes above the green line 1020. It's precariously close at the moment. Price has moved above and now retreating below offering a second chance entry. It's amazing how many times we get a second chance entry.
Price is now in the buy zone as long as it holds above the low of 795. Use a stop loss below the low for a low risk entry - short stop distance = low risk and high risk reward.
Price is now entering the buy zone between 1000 and 800. A new low will invalidate the buy signal and signal new lows.
I'm using the weekly chart here as daily candles have previously given false buy signals that were subsequently stopped out when new lows printed.
Count back line analysis - drawing a red line at the low and then counting back to the height of 3rd lowest weekly candle gives us an buy entry signal when price closes above the green line 1020. It's precariously close at the moment. Price has moved above and now retreating below offering a second chance entry. It's amazing how many times we get a second chance entry.
Price is now in the buy zone as long as it holds above the low of 795. Use a stop loss below the low for a low risk entry - short stop distance = low risk and high risk reward.
註釋
update - four weekly candles of sideways movement but the downtrend seems to have abated.
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