Fresenius is in a strong downtrend and has broken down from a corrective area.
This is likely to be the next wave down.
There are two obvious liquidity pools further below, both of which are potential reversal areas and therefore useful targets.
The first is February 2022 support, which sets up a 1:1 RR trade (TP1).
Below that is May support. That peak printed a high volatility whipsaw and is therefore more likely to trigger a reversal.
Using that as a target gives a 2.6:1 trade (TP2).
My preference is to exit at TP1, but a more adventurous trader could hold to TP2.
For invalidation, a bounce back to the 0.618 retracement would show enough strength to suggest a pivot may be forming.
Entry: Current Price
Stop Loss: $40.83
TP1: $38.1
TP2: $36.01
Not advice
This is likely to be the next wave down.
There are two obvious liquidity pools further below, both of which are potential reversal areas and therefore useful targets.
The first is February 2022 support, which sets up a 1:1 RR trade (TP1).
Below that is May support. That peak printed a high volatility whipsaw and is therefore more likely to trigger a reversal.
Using that as a target gives a 2.6:1 trade (TP2).
My preference is to exit at TP1, but a more adventurous trader could hold to TP2.
For invalidation, a bounce back to the 0.618 retracement would show enough strength to suggest a pivot may be forming.
Entry: Current Price
Stop Loss: $40.83
TP1: $38.1
TP2: $36.01
Not advice
İşlem kapandı: durdurma seviyesi
Always check your momentum trade does not pass through earnings.
Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.