AF - AIR FRANCE -
Added 2025-03-06 12:52:44 +0000 UTCSo the longest descending wedge in the market finally broke out today and is already up +22.5%
This is a chart we have been monitoring for some time now and the moment the resistance line cracked, this took off (pun intended)
No changes to the chart or Target Levels but I am just bringing this back to your attention
Those who are not in here should be looking for a retest of the breakout level at €9 for the next buy entry.
Comments
In case of retracement you want to retrace from a maximum to a previous low in order to see where the upcoming pullback may find support. Here it will not work. What can work is that a breakout can signal a start of a new impulse wave (w1 and w2). Using the Fib extension will show where the impulse wave ends and these levels can coincide with the first and second targets, strenghtening the thesis. Basically a confluence level for the upside, often moving averages appear around these levels as well. Look for similar charts with these targets to get a hang off it :)
Ondrashin
2025-03-07 15:15:14 +0000 UTCThanks, I did not know that! I also tried fib retracement with the beginning at the max point of the wedge, and the end at the very minimum of the wedge (the min point of 2025), and it sort of coincides with those targets, but I am not sure if this makes sense or if it is pure coincidence :)
Olivia
2025-03-07 14:20:55 +0000 UTCIf you take the vertical distance from min-to-max of the widest part of the wedge, you then take that distance a put its beginning to where the breakout takes place, the end will then designate the target. However I always thought that gives you the first target, here it's the second one. So I am not sure, but that's how Cap usually sets those targets without EWT.
Ondrashin
2025-03-07 14:11:00 +0000 UTCHey cap, how do you set those targets?
Olivia
2025-03-06 14:55:43 +0000 UTC
