Premise:
Currently sitting at weekly support zone on a high volume node.
Setups:
Currently sitting at weekly support zone on a high volume node.
Setups:
- Make of the chart as you like, I personally am more inclined to let the stock fall below current demand block and would look for shorts on a retest of it as the primary trend is downwards and auto industry sales have been on a decline.
- Target would be around 2300-2350 range for a short, with stop above current demand block.
- Target would be 2800-2900 range for longs, stop below 2475.