F: Watch out this Triple-Support level! (H, D and W charts)

Hello traders and investors! Let’s do a complete Multi Time Frame Analysis (MTFA) on Ford today, and analyze the hourly, daily and weekly charts.

First, in the 1h chart, we have a clear short-term bear trend. The moment it did a lower high and it lost the green line at $ 13.06, it started a pullback. The black line was completely ignored, and it went straight to the red line around $ 12.37, which is a much more reliable support level, and I’ll explain why in one minute.

Before we talk about the daily chart, keep in mind that the odds are that F will bounce back up to the area around the 21 ema and the black line next.

Now, the daily chart:


The thing is, in the daily chart, the trend is still clearly bullish, and the short-term bear trend could be just a pullback to its 21 ema again, or to the purple trendline.

See the red line here again? The reason why it is a more reliable support level is because it is near the other two support levels mentioned above in the daily chart. We are talking about a Triple-Support area, and it won’t be easy to F lose this area without stronger bearish patterns.

So far, all we can assume is that this is a pullback, and since we are near a support level, it could be an opportunity to buy, if the buy signs are triggered, of course.

But F must not lose this support level, as if it does, it might do a pullback in the weekly chart:


F is near 2018’s top level, which is a resistance we must keep our eyes on. If it loses the Triple-Support area in the daily chart, then it is easy to imagine F dropping back to its 21 ema in the weekly chart.

But as long as it holds itself near its supports, then the trend will just persist. Just keep your eyes open around and be prepared. If this analysis helped you in some way, please, support it with your like, and remember to follow me to keep in touch with my daily studies!

Thank you very much!